Germ Farts Fuel - BP, Soros Fund invest in ethanol-making microbe
| November 19, 2008 |  View for printing |
Oil giant BP and George Soros' investment firm are putting millions of dollars into a company that has isolated a microbe that can create ethanol.
Qteros, formerly called SunEthanol, on Tuesday announced the $25 million series B round of funding, which was led by venture capital firm Venrock and Battery Ventures. Other investors were BP, Soros Fund Management, and first-round investors Long River Ventures and Camros Capital.
Massachusetts Gov. Deval Patrick--a clean-energy industry backer--announced the funding and new company name at the Fourth Conference on Clean Energy here Tuesday.
The basis of Qteros is the Q Microbe, a micro-organism discovered in the woods near the Quabbin Reservoir in western Massachusetts by University of Massachusetts professor and now Qteros chief scientist Susan Leschine.
Posted by Martin LaMonica
Full Story: http://news.cnet.com/8301-11128_3-10 ... 47-1_3-0-20 
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