Follow the Clean Tech Money: DOE Makes Conditional Loan Guarantee of $105 Million to POET, OPX Biotech Raising $45 Million, Aptera Raises $2.5 Million

The Department of Energy has made a conditional loan guarantee for $105 million to Project Liberty, sponsored by POET, LLC, for the development of a commercial-scale cellulosic ethanol plant to be built in Iowa.  When completed the facility will produce up to 25 million gallons of ethanol per year that will be made from corn cobs, leaves and husks, rather than feed grains.  The cellulose will be supplied by local formers.

 OPX Biotechnologies is raising $45 million in equity to further develop biofuel and bio-acrylic production. OPX is working on creating bio-diesel from hydrogen and carbon dioxide using and engineered microorganism.  OPX is based in Boulder, CO.

Three wheel electric car maker Aptera has raised $2.5 million of a planned $3 million.  Aptera has been on shaky financial ground, even considered, at one time, moving the manufacturing function out of California to save costs. It also faces competition from the electric vehicles already released from Nissan and GM that are similar in price.  Investors in Aptera include Google.org and NRG Energy.