Cool Planet BioFuels will begin testing of its biomass-based fuel in California following approval from the California Air Resources Board. The Camarillo-based company will use a fuel made with corn cobs in commercial fleets for a several month testing period before making the fuel available to the general public. The process used to make a fuel creates a byproduct that can sequester carbon and be used as a soil conditioner. In late December, Cool Planet received a third round of private equity financing led by venture capital firm Shea Ventures LLC. Previous investors in the company have been General Electric, Google Ventures, ConocoPhillips, NRG, and North Bridge Venture Partners.