US – Biofuel maker ZeaChem adds $5 million

Money continues to roll in for Lakewood-based biofuel producer ZeaChem Inc. The company recently raised $5 million in equity financing, bringing its total venture capital investment to $64 million, according to a regulatory filing and a company spokesman. ZeaChem spokesman James Cortese said today that the company “is moving forward with its business strategy, which includes additional investments such as this.” ZeaChem has developed technology to turn wood and other materials into ethanol, using a process it says produces high yields and lower carbon dioxide emissions, at a lower cost than other methods. It plans to open a biorefinery in Boardman, Ore., next month. DP-READ MORE

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