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Cellulosic ethanol start-up EdeniQ has raised $23 million in equity from two rounds of venture funding and has obtained $9 million in debt financing. The company will use part of the money to equip ethanol plants with technology to make sugars from cellulose. In addition, EdeniQ will fund continued research at its pilot plant, where it is working on a process to make ethanol from crop waste, woody biomass, and energy crops such as switchgrass. Finally, the firm says the funds will help support a commercial scale-up development with a partner, expected to be announced in coming weeks.
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