Edeniq, a Visalia, CA-based cellulosic and biorefining technology company, raised $7m in equity funding.
Backers included Flint Hills Resources, Angeleno Group, I2BF Global Ventures, Cyrus Capital and Trinity Capital Investment.
The company intends to use the proceeds for customer acquisition, adding resources to support existing customers, and development of technology enhancements that can potentially increase the amount of cellulosic ethanol eligible for D3 RINs and other regulatory incentives at each customer plant.
Founded in 2008 by Brian Thome, President and CEO, and Cam Cast, Chief Operating Officer, Edeniq has developed processes which can be integrated into existing biorefineries that produce ethanol, other biofuels, biochemicals, and/or bio-based products.
The company, which currently sells or licenses its technologies to biorefineries in the United States, also has a field office in Omaha, Nebraska.