Jul 11 - Business Wire
GreenFuel Technologies Corporation, a privately held company providing emissions-to-biofuel conversion services to power plants and industrial facilities, announced today that it has secured $2.38 million in bridge funding from a syndicate of investors. The financing will be used to help the company continue on its aggressive development path as it secures a Series B round of investment capital.
GreenFuel was able to interest both current and new investors in
participating in this bridge financing due to the significant progress it has
made in developing its proprietary biotechnology.
"We are thrilled with the support GreenFuel has received from respected
industry investors and experts," noted GreenFuel President and CEO Cary
Bullock. "As we move toward the next stage of development, this new bridge
funding will allow us to stay narrowly focused on building the best possible
clean air biofuels(TM) solutions for our customers, while exceeding the
expectations of our investors."
About GreenFuel Technologies Corporation
GreenFuel's mission is to utilize its suite of proprietary advanced
biotechnologies to profitably transform exhaust gases from power plants and
industrial sites into renewable biofuels, worldwide. The company's
patent-pending system is linearly scalable, produces no harmful byproducts, and
is compatible with untreated water supplies. GreenFuel is presently negotiating
facility installations domestically, as well as internationally. Funded in part
by lead investor Access Industries, a global private equity investment group,
GreenFuel is headquartered in Cambridge, MA. For more information, visit www.greenfuelonline.com
.