Abstract
INVESTMENT IN SO-CALLED clean technology companies was down sharply in 2009, but a trio of deals announced last week shows that 2010 may be a better year for small chemistry-based firms developing cleaner ways of manufacturing. Genomatica, a San Diego-based company using biomanufacturing to produce chemicals, raised $15 million from its three existing backers and new investor TPG Biotech. Genomatica says the funds will help accelerate development of its process for making 1,4-butanediol, a feedstock for polyurethanes, spandex, and other materials. Genomatica CEO Christophe H. Schilling tells C&EN that the firm is already producing butanediol at the 3,000-L pilot scale and plans next to build a 30,000-L demonstration facility. Meanwhile, the green building materials firm Calera agreed to sell a $15 million equity interest to Peabody Energy, the world’s largest private-sector coal company. To date, Calera’s main investor has been the famed cleantech investment firm Khosla Ventures. Based in Los Gatos, Calif...
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