Biofuel startup LS9 has been sold for $40 million to biodiesel maker Renewable Energy Group, reports MIT Tech Review. But before you congratulate them, note that LS9 raised $81 million over nine years, and still hadn’t reached a point where it was selling its green diesel to refiners. Last year the company brought in a new CEO, following restructuring and layoffs. Such are the long roads and harsh conditions facing biofuel startups. LS9 was backed by Khosla Ventures, Flagship Ventures, Lightspeed Ventures, and Chevron Technology Ventures.
Big investment firm Blackstone Group has reportedly shuttered its planned $500 million green fund after raising only $90 million – a sign that, amidst new green funds being raised, the sector’s weaknesses are also scaring some investors away.
On the heels of Silver Lake announcing a new clean power fund last week, there have been more new moves in the new clean power investing world: Massive money manager BlackRock is launching an alternative energy investing group, with execs from Irish clean energy company NTR.
News filtering and aggregation site SkyGrid, based in Sunnyvale, CA, has raised a relatively big $11 million second round of funding. The ro…