Renewable fuels firm receives $50 million in VC funds.Altra Inc., a Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. developer of renewable fuels, received $50 million in funding last week from five private equity and venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] . The investment in Altra was led by Omninet Capital LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , of Beverly Hills, and Sage Capital Partners, of West Los Angeles
Altra said the capital will be used for construction of a biofuel bi·o·fuel n. Fuel such as methane produced from renewable resources, especially plant biomass and treated municipal and industrial wastes. bi plant in Ohio that is permitted to produce 70 million gallons of biofuel a year. The company has also signed a purchase agreement for a California plant that is expected to close by year-end. The company expects to sell biofuel and ethanol to refiners, as well as wet and dry distiller's grain to dairies and cattlemen. Altra Chief Executive Larry Gross is the former chief executive of Knowledge Adventure and a vice Chairman of Idealab. |
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