US-based renewable energy company Coskata has closed the first part of its series D funding with corporate venturing units from US-based automotive corporation General Motors, France-based oil conglomerate Total, Mexico-based joint ventures firm Arancia and the Japan-based business group Sumitomo among the investors.
Also participating were alternative asset manager The Blackstone Group, and venture capital firms Khosla Ventures, Globespan Capital Partners and Advanced Technology Ventures. According to a filing with the US Securities and Exchanges Commission the amount raised came to $20.2m.
Coskata’s series C round closed at $29.4m, in September 2010, following a series B round in February and an extension round in December 2008, which raised $19.5m and $40 respectively, adding to a $3m series A round in 2006.
General Motors invested in the February round one month after announcing a strategic partnership with Coskata while Sumitomo and Arancia first entered in the December round.
Coskata develops technology for the production of biofuel from biological matter and waste materials, and plans to extend the latest round into the fourth quarter of the financial year.