Oregon Biofuels Project Adds New Partner

Red Rock Biofuels officials Monday announced a strategic partnership with Flagship Ventures they say “sets the stage” for constructing a $200 million refinery in Lakeview, the company’s first commercial-scale refinery. As part of the partnership, Flagship Ventures, a venture capital and creation firm that describes itself as “focused on innovations in healthcare and sustainability,” will […]

Red Rock Biofuels officials Monday announced a strategic partnership with Flagship Ventures they say “sets the stage” for constructing a $200 million refinery in Lakeview, the company’s first commercial-scale refinery.

As part of the partnership, Flagship Ventures, a venture capital and creation firm that describes itself as “focused on innovations in healthcare and sustainability,” will invest in Red Rock, assume a seat on the company’s board of directors and serve as a strategic adviser for future fundraising efforts.

“We’re really pleased to have Flagship come on board,” said Jeff Manternach, Red Rock co-founder and CFO, during a Monday telephone interview. “They have a deep background in the sustainability industry and they have tremendous reach-out in the investment community.”

According to its website, Flagship operates through two synergistic units: VentureLabs, Flagship’s innovation foundry that invents and launches transformative companies, and Venture Capital, which finances and develops innovative, early-stage companies.

Founded in 2000 and based in Cambridge, Mass., Flagship manages more than $900 million in capital and has internally founded 27 ventures while investing in another 45. The firm is active in therapeutics, health technologies and sustainability.

From the Herald and News: http://www.heraldandnews.com/email_blast/lakeview-biofuels-project-adds-partner/article_1deddcd8-cc73-11e4-a8cd-078d3bc312c5.html

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