Ceres Completes Private Placement
California Private Placement: Ceres Completes Private Placement for expansion in advanced biofuels, biomass-to-power
In California, Ceres announced today that it has completed a private offering of convertible preferred stock. The proceeds will be used, in part, to expand the company’s research and commercialization activities in the advanced biofuels and biomass-to-power markets. The financing round was led by Artal Luxembourg and Ambergate Trust, and included European investment company Gimv, among others. Other aspects of the offering and its participants were not disclosed.
Ceres currently markets improved seed varieties of switchgrass and high-biomass sorghum under its Blade Energy Crops brand, has additional research programs in sweet sorghum and miscanthus, and holds one of the world’s largest proprietary collections of fully sequenced plant genes. http://biofuelsdigest.com/bdigest/2010/07/09/ceres-completes-private-placement-for-expansion-in-advanced-biofuels-biomass-to-power/
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