Primus Green Energy completes third round of funding

Primus Green Energy Inc., a developer of a proprietary process that produces gasoline and other fuels from biomass and natural gas, announced that it has completed the third round of funding. IC Green Energy Ltd, the renewable energy arm of Israel Corp. Ltd., recently invested US$12 million in the company, which brings to US$40 million the total funds raised since 2007. “IC Green Energy’s financial commitment these past five years has allowed us to proceed toward commercialization in a deliberate, focused manner, secure in the knowledge we are backed by an investor that will also stand behind us over the long-term,” said Dr. Yom-Tov Samia, Primus Green Energy chairman. “Now that our technology is in place, we look forward to partnering with additional strategic investors to bring our biomass/natural gas-to-gasoline process to market.” (March 15, 2012)