GreatPoint captures the eye of the VC world
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It was announced yesterday that GreatPoint, a Cambridge startup focused on converting coal to natural gas, raised $100 million to build a demonstration plant. The round was led by Citi Alternative Investments and Dow Chemicals Co as well as Suncor Energy and AES Corp. This is a significant investment, as it is one of the largest venture capital rounds for any clean-energy firm. While other firms have experimented in the conversion of gas into syngas, GreatPoint claims its processes are much cleaner for the environment. The company hopes to build internally (rather than through acquisitions) and help Massachusetts become a center for environmental development and talent.
