Primus Green Energy Raises $12 Million for Demo Plant

Primus Green Energy Inc., a biofuel company backed by Israel Corp., raised $12 million that will be used to finish a demonstration plant later this year.

Primus has received $40 million since 2007 from IC Green Energy Ltd., the renewable-energy arm of Tel-Aviv-based holding company Israel Corp., which may invest another $30 million, George Boyajian, vice president of business development, said today in an interview. The company could raise as much as $100 million this year from investors, including $15 million to $30 million over the next two quarters, Boyajian said.