Seattle BioFuels Closes $7.5 Million Series A Venture Financing

Northwest's Premier Bio-Fuel Company Secures Resources for National Expansion



Jan 17, 2006, 00:00 ET from Seattle BioFuels, Inc.

    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.