Series A Release
May 1, 2010
(Chicago, IL) Benefuel Inc. announces the completion of its Series A round with an international consortium of private investors.
Rob Tripp, Benefuel CEO, noted the ability of Benefuel to raise capital in the currently tight financial market and credited the company’s success on its novel, solid acid catalyst technology for producing synthetic esters from renewable, non-food fats and oils.
“These abundant raw materials are key to numerous industrial chemical product lines and Benefuel’s technology offers saving in both capital and operating expenses while delivering high quality products,” he noted.
Benefuel is presently engaged in the commercialization of second-generation technology for biodiesel in the US and global markets and eyeing collaborators for the rapidly growing biodegradable lubricants market.
Benefuel is commercializing the world’s most advanced, solid catalyst biodiesel refining platform, capable of producing high quality biodiesel from almost any type of feedstock and thereby transforming the old model of large batch, centralized fuel production and fragmented distribution into a new model of localized production and consumption from the vast array of renewable, inedible fats and oils available in the global market.