Blume Distillation LLC, a provider of bioethanol production equipment, has received $1 million in Series B funding. The investor was GreenTech seed and venture fund Climate Change Investigation, Innovation and Investment Company.
SANTA CRUZ, Calif.–(BUSINESS WIRE)–Blume Distillation LLC, the leading provider of appropriate-scale biorefinery equipment for the production of bioethanol and related high value alcohol-based end products, announced today it has reached a key milestone in the company’s history and growth. With a new $1 million investment in its series B round offering, placed by GreenTech seed and venture capital fund Climate Change Investigation, Innovation and Investment Company (CC3IC), Blume will accelerate IP filings and licensing as well as design, development and commercial roll-out of its unique biorefinery systems.
“CC3IC was formed to help springboard companies that have important technologies and processes for reducing climate change contributants such as greenhouse gas emissions and global deforestation. We focus on highly innovative companies that deserve greater support and recognition for their breakthrough climate change solutions,” said James J Farrell, Managing Director of CC3IC. “Following extensive review of Blume’s mission, proven technology, creative market-focused solutions and their large potential climate change impact, we made the decision to invest in the company and are pleased to now have Blume as a featured addition to our investment portfolio.”
“Aside from being an excellent climate change solution, we believe Blume Distillation is an outstanding business opportunity. They have a talented, seasoned management team, a solid business model and that all-important ability to get things done. We have tremendous confidence in the company’s ability to produce and rapidly deploy their proprietary equipment-based solutions that will repurpose surplus and underutilized carbohydrate, starch and sugar-rich resources, often considered waste, into high-return competitively priced alcohol-based end products,” Farrell continued. “Blume’s solutions will work well in a diversity of industries including food processing, beverage, commercial agriculture, and there is even a significant potential benefit for commercial landfill operations.”
Blume Distillation is engaged in the design and development of turnkey appropriate-scale biorefinery equipment that will produce alcohol-based products from waste and surplus resources as well as native and cultivated crops. The company’s current commercial systems produce from 250,000 to 5 million gallons of bioethanol or alcohol products per year. Blume systems also enable customers to produce a variety of related high-value co-products.
Blume Distillation’s unique front and back-end operational process flexibility often allows clients to reduce their anticipated investment payback from three years to under one year. The company is also able to produce special order systems up to 10MMGPY. Leveraging a modular turnkey design and containerized footprint, Blume systems are able to rapidly deploy in urban, commercial Ag land or remote geographic settings across the US and internationally.
“CC3IC is an innovative investment firm that is taking the time to really analyze technologies that can provide immediate benefits to help reach carbon emission reduction targets today,” said David Blume, CEO of Blume Distillation LLC. “There is a general inclination in the market to pursue traditional solutions and technologies that will gradually make a difference in our environmental as well as economic circumstances. However, there are currently over 300 million fossil fuel burning cars on the road in the US alone. There are also more than 3 billion people around the world cooking and heating homes and huts over open wood and biomass fires. As CC3IC has determined, Blume is one of the few companies with solutions that can help positively transform these energy use applications immediately.”
To date, Blume has raised nearly $2 million in its series B offering. Proceeds from CC3IC’s financial infusion will enable the company to more rapidly enhance innovations in its product offerings as well as to expand sales and marketing initiatives while driving revenue growth and market share expansion.
About Blume Distillation LLC
Blume Distillation LLC is focused on designing and developing world class, small to mid-sized, biorefinery systems that will produce alcohol products including bioethanol fuel from a diversity of locally available feedstock resources. Blume Distillation systems are suited to rapid deployment in a wide variety of commercial and geographic settings. The systems are designed to produce fuel at costs comparable to, or lower than large-scale producers. Blume Distillation LLC has Global Impact Investing Rating System (GIIRS Ratings & Analytics) certification. GIIRS is a comprehensive and transparent system for assessing the social and environmental impact of companies. For more information, visit http://giirs.org, or visit www.blumedistillation.com.