Joule Gets $70 Million in Funding for New Mexico Biofuel Plant
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Joule Unlimited Inc., a closely held biofuel developer, received $70 million in venture funding to support the start of a test plant in New Mexico this summer.
The funds are the third round for a total of $110 million in financing, the company said today in a statement. Founding backer Flagship Ventures participated as well as other investors Joule didn’t identify. Proceeds also will support research and global expansion plans.