REAC Fuel develops a method to extract biofuel from renewable biomass, with technology designed to produce petrol, diesel and paraffin. The process also has potential to produce chemicals and sugars from biomass. The company intends to use the funds to perfect the technology and is building a scaled-up facility in Lund with estimated completion in the second half of 2011. The capital infusion will enable REAC Fuel to employ an additional 10 staff during the next quarter; its workforce rose from 6 to 10 since the beginning of the year. Investors to date include BP, VantagePoint, Sustainable Technologies Fund, Allba Invest and Jensen Invest, who together have invested US$6m during the year.

Total raised

$5M

Funding rounds

1

Latest round

Equity

Latest activity

Nov 2010