NexSteppe Getting $22 Million to Develop Feedstock for Biofuels

NexSteppe Inc., a closely held biofuels company, received $22 million in funding to develop crops that can be used as feedstock.

Total Energy Ventures and ELFH Holding GmbH joined existing investors including Braemar Energy Ventures and DuPont Ventures in the Series C funding round, South San Francisco, California-based NexSteppe said today in a statement.

NexSteppe’s crops can be used in biomass boilers and anaerobic digesters to produce energy, or refined into components for chemicals and plastics, according to the statement.

Braemar led a $14 million funding round for NexSteppe in 2011.

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