September 11, 2006
Virgin’s Branson Invests in Cilion
Richard Branson invested more than $60 million into Cilion recently, a company that will make bioethanol from corn. Cilion raised a total of $160 million earlier this month.
In total, Virgin Fuels, the subsidiary used for the investment, is investing $400 million in several biofuel companies, The Sunday Times reports (via Free Republic). Virgin Fuels is already working with UK’s government to make it economic for train companies to use biodiesel. Branson is understood to be considering other big investments in a range of other alternative-energy technologies, including wind power, hydro-electric and possibly even small nuclear stations.
Cilion is expected to start work on the first of seven bioethanol plants within a few weeks.
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