SAN CARLOS, Calif., Oct. 9 /PRNewswire/ -- LS9, Inc., the Renewable Petroleum Company(TM), announces the close of its second round of funding with $15 million in new investments. Leading the financing was Lightspeed Venture Partners, with additional contributions from existing partners Flagship Ventures and Khosla Ventures. The funding will support the company's continued talent acquisition and rapid commercialization of DesignerBiofuels(TM) products. As a principal investor, Peter Nieh, General Partner of Lightspeed Venture Partners, will also take a seat on the company's board of directors. "LS9 is the clear market leader for renewable production of hydrocarbons. We are very impressed by their differentiated technology, strong intellectual property, and compelling economics," Mr. Nieh said. "LS9 will be a valuable addition to our clean energy portfolio, and we look forward to working with them to extend their lead with respect to these second-generation biofuels," he said. "LS9 was the first company to focus on recombinant production of hydrocarbon biofuels," said LS9 President Robert Walsh. "Building upon two years of R&D success, this financing will allow us to continue to attract top talent, begin construction of a pilot facility, commercialize on a massive scale and bring DesignerBiofuels(TM) products to market in the next two or three years," he said. LS9 DesignerBiofuels(TM) products are a family of fuels produced by microbes that have been specially engineered via recently developed methods of industrial synthetic biology. Starting from raw materials that are natural sources of sugar such as sugar cane and cellulosic biomass, these renewable fuels stand to fundamentally change the biofuels landscape and set the stage for widespread product adoption and petroleum displacement. LS9 hydrocarbon biofuels have higher energetic content than ethanol or butanol and have fuel properties that are essentially indistinguishable from those of gasoline, diesel, and jet fuel. About LS9 LS9, Inc., the Renewable Petroleum Company(TM), is a privately-held biotechnology company and the pioneer in the commercial development of hydrocarbon biofuels. LS9 is pursuing industrial applications of synthetic biology to produce proprietary hydrocarbon biofuels that are compatible with existing fuel distribution and consumer infrastructure. LS9's patent-pending DesignerBiofuels(TM) products are custom engineered in the lab to address immediate market needs for clean energy alternatives to petroleum. The company was founded in 2005 by leading scientists along with specialized venture capital firms Flagship Ventures and Khosla Ventures. LS9 is headquartered in San Carlos, California, in the heart of Silicon Valley. http://www.ls9.com. About Lightspeed Venture Partners The partners of Lightspeed have invested over $800M in more than 100 technology companies over the past two decades and invests across the U.S., China, India and Israel. Lightspeed has contributed strong operational and sector expertise to market leaders such as Blue Nile, Brocade, Ciena, eHealthinsurance, Galileo Technology, Informatica, Kiva Software, Metasolv, Phone.com, Quantum Effect Devices, Riverbed, Sirocco, Virsa Systems and Waveset, working closely with these companies throughout the early stages of their business development lifecycles. http://www.lightspeedvp.com
SOURCE LS9, Inc.