GreenFuel Technologies Corporation, the leading developer of algae bioreactor systems that convert CO2 in smokestack gases into clean, renewable biofuels, announced that it has closed a $6.835 million Series B-1 Preferred round of funding with Polaris Venture Partners, headquartered in Waltham, MA. The announcement was made at the Power-Gen Renewable Energy & Fuels Conference in Las Vegas. The new funding is a follow-on to $11 million in Series B funding secured in August 2005 from Draper Fisher Jurvetson and Access Private Equity.
Polaris Venture Partners will be represented on GreenFuel's Board of Directors by Dr. Robert M. ("Bob") Metcalfe, a General Partner in Polaris' Waltham office. A world-renown pioneer in information technology, Dr. Metcalfe helped build the Internet and invented Ethernet -- the local-area networking (LAN) standard on which he shares four patents. Dr. Metcalfe was also founder of 3Com Corporation and Publisher/CEO of IDG's InfoWorld Publishing Company. In March 2005, Dr. Metcalfe received the National Medal of Technology from President Bush.
Polaris Venture Partners will be represented on GreenFuel's Board of Directors by Dr. Robert M. ("Bob") Metcalfe, a General Partner in Polaris' Waltham office. A world-renown pioneer in information technology, Dr. Metcalfe helped build the Internet and invented Ethernet -- the local-area networking (LAN) standard on which he shares four patents. Dr. Metcalfe was also founder of 3Com Corporation and Publisher/CEO of IDG's InfoWorld Publishing Company. In March 2005, Dr. Metcalfe received the National Medal of Technology from President Bush.
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