SEATTLE, Jan. 17 /PRNewswire/ -- Seattle BioFuels, Inc., a leader in next generation Biodiesel process technology, today announced it closed a $7.5 million Preferred Series A investment from leading venture investors including Nth Power, Technology Partners and Vulcan Capital. The financing will be used for national expansion, with plans to accelerate commercialization of innovative process technology, open a new biodiesel refinery and oil seed-crushing oil facility in the second half of 2006. Nancy Floyd, Managing Director of Nth Power (www.nthpower.com) and Ira Ehrenpreis, General Partner of Technology Partners (www.technologypartners.com) have joined the board of Seattle BioFuels. Seattle BioFuels is a national leader in next generation biodiesel production technology delivering significant economic and quality improvements to the process. Seattle BioFuels has developed a proprietary Pulse Reactor(R), Active Methanol Recovery System(R), and an Adsorbent Enhanced Polishing Process(R) along with other improvements to the Biodiesel production process. The company built its first commercial scale refinery operating as Seattle Biodiesel providing 5 million gallons per year capacity to the Northwest market. "Demand is so high that we still have not been able to meet it with our current facility," said Martin Tobias, CEO and Chairman of Seattle BioFuels. "We obviously want to be a national company," he said, "and we think we have a better, faster, cheaper way to make biodiesel that we can replicate all over the country and internationally." About Seattle BioFuels Founded in 2003, Seattle BioFuels is a national leader in next generation biodiesel refining and manufacturing technology. Seattle BioFuels opened the first commercial scale (5 million gallons a year) implementation of their technology in May of 2005 in Seattle, WA (Seattle Biodiesel). The mission of Seattle BioFuels is to develop and deploy technology innovations that enable a gallon of biodiesel to be produced cheaper than a gallon of petroleum diesel. Seattle BioFuels is backed by leading venture capital groups and individuals including Nth Power, Technology Partners, Vulcan Capital and Martin Tobias (Founder Loudeye Technologies and Venture Partner Ignition Partners). For more information please visit http://www.seattlefuels.com
SOURCE Seattle BioFuels, Inc.