Calif. ethanol firm raises $200-mln financing
Monday, September 11, 2006 4:55:54 PM (GMT-04:00)
Provided by: Reuters News
SAN FRANCISCO, Sept 11 (Reuters) - Ethanol production company Cilion Inc. said on Monday it raised more than $200 million in a second equity round of financing to build plants to produce the biofuel.
Cilion was formed in June with a partnership between Western Milling, one of California's largest grain milling companies, and the Khosla Ventures venture capital firm.
Virgin Group's [VA.UL] new Virgin Fuel business also joined the second round along with Yucaipa Companies and Advanced Equities Inc., Cilion said in a release.
British billionaire Richard Branson recently launched Virgin Fuels and plans to invest up to $400 million in renewable energy development over the next three years.
Cilion, based in Goshen, California, said it will operate 55-million-gallons-a-year ethanol plants using multiple feedstocks.
((Reporting by Leonard Anderson, editing by Braden Reddall; Reuters Messaging: leonard.anderson.reuters.com@reuters.net; 1 415 677 3923))
Keywords: ENERGY CILION ETHANOL
