REAC FUEL RAISES USD 4.5 MILLION IN EXPANSION CAPITAL

The Swedish Cleantech company, REAC Fuel, which is developing a new method of extracting biofuel, has raised USD 4.5 million in expansion capital through a new issue. The investors are the oil company BP, VantagePoint and Sustainable Technologies Fund.The capital injection will be used to perfect the technology, which entrepreneur Anders Carlius and research scientist Rune Ekman have been developing since 2001. The technology makes it possible to produce fuels, such as petrol, diesel and paraffin, from renewable biomass. There is also the exciting potential to produce chemicals and sugars