Google Invests In CoolPlanetBiofuels

Posted Mar 21, 2011

The venture capital subsidiary of Google Inc. (NASDAQ:GOOG), Google Ventures has invested in biofuel company CoolPlanetBiofuels. CoolPlanetBiofuels has developed technology to produce fuel from biomass such as grass and wood chips. The process that CoolPlanetBiofuels uses produces a byproduct where carbon is captured and crop yields are improved. “While we have made significant progress over the past couple of years, this new infusion of capital, coupled with the expertise of the Google Ventures team, enables our team to scale even faster,” stated CoolPlanet CEO Mike Cheiky. [Reuters]