When it comes to next-generation biofuels, it's a competition for both technology and capital.
Range Fuels expanded its previously announced series B funding from $100 million to $166 million, according to reports. Private Equity Hub on Monday cited a regulatory filing, saying Morgan Stanley Capital Group joined the round. VentureBeat reported the expansion last week.
The money will be used to build the first phase of its ethanol plant in Soperton, Ga., which will use forestry waste as a feedstock. The plan is to complete a 20 million gallon-per-year plant next year that uses a gasification process.
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