Biofuel developer Amyris targets $70M new funding
Biofuel developer Amyris Biotechnologies Inc. said on Wednesday it has raised part of $70 million in a second round of funding that it expects to complete by the end of the year.
The Emeryville-based synthetic biology company develops renewable hydrocarbon biofuels. The company said the funding will be used to commercialize and scale up production of the startup's hydrocarbon biofuels, with the aim of bringing biodiesel to the market in 2010
Duff Ackerman & Goodrich Ventures of Palo Alto led the deal, joined by return backers Khosla Ventures, Kleiner Perkins Caufield & Byers and Texas Pacific Group Ventures, all from Menlo Park.
The company raised $20 million in Series A funding last year, and named BP executive John Melo as CEO.
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