Aurora Biofuels, an Alameda, Calif. developer of biofuels produced from open-pond algae, has raised $15 million in a third round of financing led by Oak Investment Partners. Returning investors included Gabriel Venture Partners and Noventi Ventures.
With this latest round Aurora has raised $40 million. The company plans to use the new cash to grow production and eventually commercialize its algae-based biofuel.
Separately, Aurora also announced that Scott McDonald is joining the company as Chief Financial Officer — see here for the full press release.
Earlier this week San Bruno, Calif.-based Agile Energy raised $13.2 million as part of a first round of financing from Good Energies, reports the CleanTech Group. Agile develops photovoltaic and concentrating photovoltaic projects in North America. The company plans to use the cash, which comes in the form of cash and credit support, to finance its 400-megawatt project pipeline — see here for the full press release.