Blume Distillation, a Santa Cruz, CA-based provider of bioethanol production equipment, raised $2.2m in Series A financing.
The round included unnamed angel and impact investors.
The company intends to use the capital to assemble its system.
Led by David Blume, Founder and Chief Technical Officer, and Ryan Sarnataro, CEO, Blume Distillation develops and acquires intellectual property in the areas of mechanical and biological systems, processes, and co-products.
The company designs and develops appropriate-scale equipment that will produce bio-ethanol from waste and surplus resources as well as native and cultivated crops. Its commercial systems are designed to produce from 20,000 to 500,000 gallons of fuel a year, applications including transportation, clean indoor cooking, electricity generation and refrigeration.
Potential customers include food processing businesses, beverage producers, industrial/nutraceutical companies, commercial agriculture operations as well as waste haulers and individual business owners.
FinSMEs
27/03/2013