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
As a principal investor, Peter Nieh, General Partner of Lightspeed
Venture Partners, will also take a seat on the company's board of
"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.
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
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.