SunEthanol changes name, receives funding

By | January 12, 2009
Hadley, Mass.-based cellulosic ethanol company SunEthanol, now called Qteros, raised $25 million in November from a consortium of investors in a Series B round of financing. The funds are intended to further the advancement of the company's novel Q Microbe, the inspiration for the company name change. The financing was led by Venrock and previous investor Battery Ventures. Series A investors Long River Ventures and Camros Capital also participated in the Series B round. New investors Soros Fund Management LLC and BP Amoco PLC contributed, as well.