Ceres, Inc. a Thousand Oaks, CA-based developer of energy grasses that can be planted as feedstocks for advanced biofuels, biopower and bio-based products, has completed a private financing of undisclosed amount.
The round was led by Artal Luxembourg and Ambergate Trust, with participation from European investment company Gimv, among others.
Ceres currently markets improved seed varieties of switchgrass and high-biomass sorghum and has additional research programs in sweet sorghum and miscanthus.
Over the past three years, the company has launched its energy grass seed business in the United States and expanded its research and commercialization activities into the biopower, bio-based chemical and sugar-to-biofuel markets, including joint projects with electric utilities and next-generation biorefineries. Ceres also grew its international presence, and is currently deploying its seeds and technology in Brazil.
The funds will be used to expand research and commercialization activities in the advanced biofuels and biomass-to-power markets.