Published: April 27, 2010
Global Oil Major TOTAL Invests in Coskata, Inc.
WARRENVILLE, Ill. - (BUSINESS WIRE) - Coskata Inc., a developer of platform technology for the production of
biofuels and biochemicals from biomass and waste materials, today
announced that it has closed a round of equity financing. French oil
major TOTAL invested in the round and will have a seat on Coskata's
Board of Directors. The proceeds of the financing will support Coskata's
bio-ethanol commercialization activities while ensuring advancement of
new product technologies. Also participating in the transaction were a
number of Coskata's prior investors, including Blackstone Cleantech
Venture Partners, Khosla Ventures, Advanced Technology Ventures (ATV),
Globespan Capital Partners, and Arancia.
"This investment by TOTAL, one of the world's largest oil and gas
companies and a major player in chemicals, confirms the potential of our
technology platform and enhances our plans for commercial deployment,"
said Bill Roe, President and CEO of Coskata. "Having a strategic
investor with a long-term view of developing and advancing Coskata's
platform technology will strongly enhance our position in the biofuels
and chemicals markets."
"Coskata has already successfully demonstrated its syngas conversion
technology at a significant scale, and we are pleased to support this
promising platform technology for the further steps of its development,"
said Manoelle Lepoutre, Senior Vice president Sustainable Development
and Environment of TOTAL SA, and President of Total Energy Ventures
International.
About Coskata
Coskata
Inc. is a biology-based renewable energy company with a platform
technology that enables the low-cost production of biofuels and
chemicals, from virtually any carbonaceous material. Using anaerobic
microorganisms and innovative bioreactor designs, we create and enable
additional energy resources worldwide.
The process combines the flexibility of gasification with the efficiency
of biological conversion of syngas into fuels or chemicals. Founded in
2006 by leading renewable energy investors and entrepreneurs including
Khosla Ventures, Advanced Technology Ventures, and GreatPoint Ventures,
Coskata has assembled an experienced management team to lead the
development and commercialization of its compelling technology. For more
information, please visit www.coskata.com.
About Total
Total is one of the world's leading oil and gas companies, with
operations in more than 130 countries. To help meet global energy demand
today and tomorrow, Total's 97,000 employees deploy their skills across
the entire oil and gas chain, from exploration and production to
refining and marketing, trading, and gas and power. It is also a
world-class chemical producer. Through real-world initiatives and
ongoing innovation, Total intends to play a key part in addressing the
core social and environmental issues of the future by pursuing a
threefold objective: managing and reducing its footprint, creating value
for all stakeholders, and securing the future. www.total.com
Coskata Inc.
Matthew Hargarten
312-377-4136
Media@Coskata.com
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