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Friday, September 5th, 2008
articles.php?which=MoreMoneyThisWeeksFunded
More Money: This Week's Funded.

-It's been another week full of big bucks for green companies. The biggest take was the $75 million that Recurrent Energy pulled in for its solar services technology. Recurrent is the company responsible for major solar installations in various cities, including the 5-megawatt municipal project planned for San Francisco this year. How it works is that Recurrent builds and maintains solar cells, and then sells the electricity they generate to the city for a set rate.

-Raven Biofuels recently scored $10 million in funding for its cellulosic ethanol plant. They take softwood that's been infected by the Mountain Pine Beetle and convert it to ethanol and furfural through a process that obviously involves some sort of voodoo. Furfural is a diesel substitute that reduces the soot and sulfur emissions created by diesel. Neat.

-Nuventix, the inventors of SynJet technology, secured $14 million in third round funding this week. SynJet is a fanless cooler that's used in devices like consumer electronics, computer chips, and LED lights. If you've ever had your laptop overheat, you know why these guys got funded.

-Gaia Online, which is continually described by the press as an "online teen hangout" (is that what kids do these days?), raised $11 million in third round VC funding this week. Speculation is that the company will use the cash to continue developing their MMO, its "massively multiplayer online game," which apparently is something akin to World of Warcraft for you gaming nerds.

-Light Sciences Oncology received $40 million in VC funding for its Litx cancer-fighting therapy. The light-activated drug treatment is currently in late-stage clinical trials with liver, brain, and colorectal cancer patients. So far the company has raised a grand total of $137 million in funding.

-YouSendIt, a start-up that lets you, um, send it (where "it" is large files) via email, secured $14 million in third round funding this week. They're specifically focused on small businesses and independent contractors, and already have 7 million users. Since they already have the technology, we're going assume that money's going toward marketing?

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