Trash-To-Ethanol Company Gets $19.5 Million More
CNET News:
Coskata, a start-up that wants to make ethanol out of tires and other stuff found in the dump, has raised $19.5 million in a second round of funding, according to SEC documents scoured by Private Equity Week.
Earlier this year, General Motors announced it had invested in the company and that Coskata would build GM a test ethanol plant by the end of the year that would be capable of producing 40,000 gallons of fuel a year.
Coskata’s ultimate goal is to sell fuel for $1 a gallon. It hopes to have a 100-million gallon a year plant by 2011.
A whole host of start-ups are in the midst of raising money or building cellulosic ethanol plants. Each company has its own processes and feedstocks, and the key to success (or failure) for most of them will be how cheaply and efficiently they can produce fuel at high volumes. Mascoma, for instance, converts grasses and wood chips into fuel through biological fermentation. Range Fuels, meanwhile, converts wood into fuel through thermochemical processes similar to those for converting coal into a liquid. Then there is ZeaChem, which converts wood into acetic acid and mixes the acetic acid with hydrogen to make fuel.
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