LS9 gets funding from Black Rock

A fuel conversion company recently made headlines when it announced that it received funding from one of the most well known venture capital companies in the world.

In a statement, LS9 announced that they had received $30 million in capital from BlackRock as it completes its latest round of funding. In addition to BlackRock, other investors included Flagship Ventures, Khosla Ventures, Lightspeed Venture Partners, CCTV Investments and the venture arm of Chevron Technology Ventures – all have previously given funding to the company.

Over the years, LS9 has been working to develop a technology that creates a one-step fermentation process in order to convert plant-based ingredients into "a diverse portfolio of fuel and chemical products."

"We are very pleased that this outstanding group of new and existing investors has demonstrated their commitment to LS9’s mission to bring renewable chemical and fuel products to market,"said Ed Dineen, newly appointed president and chief executive officer of LS9. "In particular with BlackRock, the world’s largest asset manager, joining our investor group, and given their increasing focus on renewables, we believe this will benefit LS9 in a number of ways."

LS9 made other headlines recently when it announced the hiring of Edward Dineen as CEO and president.