Cilion Financing Round Exceeds $200 Million
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Ethanol production company Cilion Inc. said it raised more than $200 million in a second equity round of financing to build plants to produce the biofuel.
Cilion was formed in June with a partnership between Western Milling, one of California’s largest grain milling companies, and venture capital firm Khosla Ventures.
Joining the partnership in funding Cilion was Virgin Group’s new Virgin Fuel business as well as Yucaipa Cos. and Advanced Equities Inc., Goshen, Calif.-based Cilion said.
Cilion said it would operate 55-million-gallons-a-year ethanol plants using multiple feedstock.
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