Colorado-based ZeaChem has expanded its board of directors and raises new capitol to move closer to commercial production of advanced biofuels and chemicals.
ZeaChem has raised $19 million in Series C financing, led by Birchmere Ventures, and partner Sean D.S. Sebastian has joined the ZeaChem board of directors. “As an industry leader in the advanced biofuels and bio-based chemicals industries, ZeaChem’s proven capability to produce economical and sustainable petroleum alternatives is an innovation we are pleased to add to our portfolio,” said Sebastian.
ZeaChem also added two independent members to the board. Ross Pillari spent 35 years with BP, including as chairman and chief executive officer of BP America and currently serves on the advisory board of CVC Capital Partners. Charles “Charlie” Shaver has three decades of experience in the chemicals industry, most recently serving as president of The TPC Group, Inc.
ZeaChem’s 250,000 GPY integrated demonstration biorefinery in Boardman, Oregon is scheduled to come on line yet this year. The company is now developing commercial biorefineries for the production of advanced biofuels and bio-based chemicals.