Cobalt Biofuels, Mountain View CA, has raised $25 million in equity to accelerate the commercialization of biobutanol, an advanced biofuel, according to company information.
"With this round of funding Cobalt Biofuels will move aggressively toward commercial production of cost effective, non-food based biobutanol,” said Pamela Contag, president and chief executive officer of Cobalt Biofuels.
Biobutanol be used as a stand-alone transportation fuel, as an additive to gasoline or diesel fuel, and as an additive to improve the properties of ethanol. Cobalt’s technology allows it to produce biobutanol from a diverse range of non-food feedstocks and it can be used at full strength in today’s automobile engines and can be distributed through existing pipelines, according to company information.
Butanol also can be sold into the industrial chemical market, where it has numerous applications.