Virgin Fuels officially announced, invests in Cilion's ethanol plants
Although is was hardly a surprise to anyone who's been following biofuels recently, the official wraps finally came off of the new Virgin Fuels enterprise Sunday, funded by Virgin Group and that sometimes annoying gazillionaire Sir Richard Branson. Virgin Fuels will invest up to $400 million in renewable energy initiatives in the next three years, and the first recipient is Cilion, a newly formed ethanol producer in California. Neither Virgin nor Cilion announced the amount of the investment, but Cilion has already raised $200 million in financing from other sources, including Vinod Khosla's venture capital company. Virgin Fuels will be investing in biofuels around the globe, Branson said.
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[Source: Virgin]
Reader Comments (Page 1 of 1)
Shirt.T 5:48PM (9/13/2006)
Well, let's see will this company change anything on the market of fuel. If it change anything I will be surprised. Especially if it will happen at next 3 years
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loikll 6:05PM (9/13/2006)
If you really want to make a dent, you probably need to be investing in or buying GAS STATIONS.
Apparently anyone can roll up $100 million to build an Ethanol plant these days. But what's hard is convicing John Q. Gas-station-owner to spend $50K or $100K installing an E-85 pump, plumbing & tank, when there is no additional profit to be gained by doing so. Where's the incentive?
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