California tech fund invests in ethanol

By | April 14, 2009
Biofuel development company Principle Energy Ltd. received a $10 million investment from Craton Equity Partners to be used for the company's first project in Dombe, Mozambique. The 60 MMgy sugarcane-based ethanol plant is scheduled to begin production in 2010. The total cost of the project is estimated at $350 million. Craton, a technology fund focused on sustainable biofuels projects, expects to continue to invest in projects throughout Africa.