LiveFuels Secures $10 M for Algae-to-Biocrude

Menlo Park, California [] LiveFuels Inc., a privately funded developer of algae-to-biofuels, announced the first close of its Series A financing. The low-eight figure round was led by David Gelbaum of the Quercus Trust, a major donor to conservation advocacy and environmental organizations. LiveFuels is collaborating with government scientists at U.S. national laboratories as well as key academic institutions to make algal biocrude competitive with fossil fuels by 2010.

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