HCL CleanTech Ltd., a biofuels start-up based in Tel Aviv, announced today a $5.5 million Series A financing led by Khosla Ventures, Burrill & Company, and angel investor Zohar Gilon.
HCL CleanTech has developed a proprietary technology to make an old, industrially proven German process converting lignocellulosic biomass to fermentable sugars economically attractive. According to the company, it is these fermentable sugars which are considered the gateway to advanced biofuels (biobutanols, biodiesel, jet fuel etc) and biochemicals (bioplastics etc).