NexSteppe Getting $22 Million to Develop Feedstock for Biofuels

Sept. 23 (Bloomberg) — NexSteppe Inc., a closely held
biofuels company, received $22 million in funding to develop
crops that can be used as feedstock.

Total Energy Ventures and ELFH Holding GmbH joined existing
investors including Braemar Energy Ventures and DuPont Ventures
in the Series C funding round, South San Francisco, California-based NexSteppe said today in a statement.

NexSteppe’s crops can be used in biomass boilers and
anaerobic digesters to produce energy, or refined into
components for chemicals and plastics, according to the
statement.

Braemar led a $14 million funding round for NexSteppe in
2011.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Carlos Caminada, Will Wade

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