Friday, July 12, 2013

Colorado Snags Biofuels Maker Cool Planet Biofuels

Colorado has successfullly snared another, California-based biofuels technology developer this week, as Cool Planet Biofuels said it would be moving its headquarters to Greenwood Village. Cool Planet Biofuels develops biofuels technology for creating crude oil from algae-based processes. Cool Planet is apparently moving its headquartered to Greenwood Village due to efforts by Colorado to offer state tax rebates to the company; the company is also planning to build its first manufacturing location in Greenwood Village. Cool Planet Biofuels had been based in Southern California. The biofuels firm is at least the second, biofuels company that Colorado has been able to attract from California; the state also successfully wooed Gevo, a developer of biofuels technology, several years ago, just prior to that company's IPO.