Issue Date: July 30, 2007
Virgin's Branson Buys Into Biofuels
British entrepreneur Sir Richard Branson has made an undisclosed investment in Gevo, a Pasadena, Calif.-based biofuels firm. Branson negotiated the deal through Virgin Fuels, a $400 million fund he set up last year to invest in renewable-energy companies. Khosla Ventures also invested in the financing round. Gevo, which is focused on generating butanol from biomass with technology developed at California Institute of Technology, also named Patrick Gruber its new CEO. He is the former chief technology officer of NatureWorks, a maker of corn-derived polylactic acid polymers used for packaging and textile fibers.
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