First published in Cleantech magazine. November/December 2007. © Cleantech Investor Ltd 2007

Oxford Capital Partners (OCP) has closed a £1.58m funding round in biofuels developer Green Biologics. Other investors involved in the transaction were Carbon Trust Investments and a handful of existing backers. The money will go towards the development of a pilot demonstration of the company’s latest fermentation process for bio-butanol, which uses new high temperature molecular biological techniques and targets waste feedstocks. As well as being environmentally friendly, the process has the potential to generate a two to three fold reduction in costs.

Additionally, OCP is also reported to be launching a $250m cleantech fund. The vehicle, named Terra Nova Sustainability Fund, will source deals throughout Europe and in other continents on an opportunistic basis. The GPs at OCP expect to hold a first closing in a few months’ time.