Google Ventures Backs Cool Planet to Create Environmentally Friendly Gasoline

Cool Planet

Cool Planet, a startup headquartered in Colorado, announced a major $100 million round of financing on Monday. Investors include a roster of big names including Google Ventures, BP, General Electric, and ConocoPhillips. Last month the company broke ground on its first commercial plant, located in Louisiana, and this new capital will go towards completing that infrastructure and building two more Louisiana facilities. Like many biofuels companies before it, Cool Planet makes liquid fuel from plant matter, mostly leftover agricultural waste like corn cobs and sugar canes. Its insight was that during this process it could also create biochar, a substance that comes from burning plants under extreme heat and pressure with little to no oxygen. The biochar prevents carbon dioxide from escaping as the plants decay and can be spread on farmland, helping the soil retain water and nutrients, boosting crop yields.

Read the full story at The Verge.

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