Startup company Cool Planet Biofuels Inc. completed a third rounding of funding that included an investment from BP Technology Ventures.
The Camarillo-based firm will use the unspecified amount of funding for construction of modular production plants that turn biomass — woodchips, crop residues and non-food fuel crops — into a renewable fuel that is mixed with conventional gasoline.
Venture capital firm Shea Ventures LLC led the funding round. Previous investors in Cool Planet have been General Electric, Google Ventures, ConocoPhillips, NRG and North Bridge Venture Partners.
Tech industry serial entrepreneur Mike Chieky founded Cool Planet in 2008.
His previous start ups are zinc battery manufacturer ZPower and Transonic Combustion, developer of a more efficient fuel injection system, both located in Camarillo.