Altira Backs Evolutionary Genomics

Evolutionary Genomics, a Louisville, Colo.-based developer of new strains of biofuel feedstocks, has raised an undisclosed amount of funding from Altira Group LLC.

 

PRESS RELEASE

Altira Group LLC — the pioneer and leader in venture capital and private equity funding for energy technology companies — announced today an investment in Evolutionary Genomics (EG), of Louisville, Colorado. EG applies patented genetic technology toward developing strains of biofuel feedstocks with greatly improved yields.

 

Altira's investment in EG was made out of the recently closed Altira Technology Fund V — a US$176 Million fund focused on venture capital for energy technologies.

 

Evolutionary Genomics (http://www.evolgen.com) was founded in 2000 and has developed a fully operational, patented, gene discovery technology platform, the Adapted Traits Platform. This platform is being used to screen gene adaptations in biofuel feedstocks such as corn, switchgrass, sugar cane, algae and soybeans to improve yield-related traits, such as grains per plant, grain weight, yield per acre, biomass, drought resistance and disease resistance. These breakthroughs will help to make biofuels an important and permanent part of the solution to the challenges faced worldwide in energy resource sustainability, environmental quality and climate change.

 

“As global energy demand continues to climb, it is critical that we find solutions to meet that demand in a sustainable, cost-effective and environmentally neutral way,” said Peter Edwards, partner at Altira and a board member of Evolutionary Genomics. “Biofuel production is moving toward long-term commercial viability, and we feel Evolutionary Genomics will support and accelerate that movement. New biofuels technologies will come from all corners of science, including the biological sciences, and EG's technology is among the most promising bioscience we've seen in this area.”

 

“The closing of this round of funding will help us continue our groundbreaking work to address the growing demand in biofuel feedstocks,” said Ginny Orndorff, President, CEO and Founder of Evolutionary Genomics. “We are excited to work with the veteran energy technology investors at Altira Group. They bring a vision for the energy world of the future and provide the resources to help us achieve our vision as well.”

 

About Altira Group

 

Altira Group LLC (http://www.altiragroup.com) is a Denver based private equity and venture firm that has profitably invested in energy technology companies for over 12 years. Their portfolio includes companies in both the traditional and renewable energy sectors. Altira pursues opportunities to commercialize transformative technologies that drive efficiency and productivity gains throughout the energy value chain while reducing the carbon footprint.

 

Altira is currently investing out of its fifth fund. The typical initial investment is in the US$5-US$10 million range, with follow-on investments as warranted. Altira seeks investment opportunities led by experienced and dedicated management teams who are commercializing new energy technologies with high growth potential