An Oxfordshire biotechnology company is set to develop a new low-cost ‘next generation’ biofuel, with £250,000 funding from the Department of Trade and Industry’s Technology Programme and £310,000 from shareholder investors and business angels. Green Biologics Ltd plans to develop a way of manufacturing biobutanol, identified as a superior ‘next generation’ biofuel for transport, which will slash the cost of production by up to a third. Biobutanol is currently used as a chemical feed for stock but high production costs have prevented it being widely used as a fuel.
Investindustrial sells its remaining stake of 4.12% in the company, fully exiting the investment
Following the deal, CCV Schweiz will be integrated with Concardis Schweiz, which is part of Nets Group
Minority shareholder IMS Capital has also filed for insolvency; Getnow is now seeking new investors
Exit from Rutland Fund III realises a return of 5.7x on the original cost of the investment