Proterro Gets $3.5 Million to Develop Non-Crop Sugar for Biofuel

Proterro Inc., a U.S. biotechnology company that produces sugars for biofuels, will receive $3.5 million in venture capital funding to develop its technology.

Current backer Braemar Energy Ventures led the financing round and was joined by new investors Cultivian Ventures and Middleland Capital, Ewing, New Jersey-based Proterro said today in a statement. The company uses a biosynthetic process to produce sucrose that may be processed into fuel and chemicals.

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