Cobalt Technologies develops and manufactures biobutanol (n-butanol) from non-food crops and biomass byproducts. Its biobutanol is sold into paints, coatings and renewable chemicals markets and can also be processed into jet fuel; the DOE notes biobutanol has greater energy density than ethanol. The company uses a non-genetically modified organism to ferment sugars from low-cost feedstocks such as wood chips and agricultural residues. Cobalt plans to build a 470,000 gallon-per-year demonstration plant in Alpena, Michigan, which is expected to start up around April 2012. It will generate some revenue from the Alpena facility and use that revenue along with the Series D proceeds to begin development of its first commercial plants. Cobalt is also developing bio jet fuel(s) under a partnership with the U.S. Navy struck in late 2010. Cobalt Technologies is a San Jose alternative energy startup. The article does not describe the company’s specific products or technology. It has secured $3 million of a planned $9 million second round. The partial raise was reported in a regulatory filing. The filing and report were cited by PE Week. No operating metrics, revenue figures, or future plans were disclosed in the article.

Total raised

$23M

Funding rounds

2

Latest round

Series D

Latest activity

May 2011