AquAgro invests $1.5m in biodiesel start-up

Transbiodiesel has signed a deal with a US firm with $10 billion in sales. Sources inform ''Globes'' that Transbiodiesel Ltd. has raised $1.5 million from B. Gaon Holdings Ltd. (TASE: GAON ) cleantech venture capital arm AquAgro Fund LP, which acquire a 25% stake in the company. The investment will be in two tranches subject to Transbiodiesel meeting commercial milestones. The sources added that Transbiodiesel has also signed a cooperation agreement with a US biodiesel company that has 17 employees and $10 billion in annual sales. Transbiodiesel did not disclose the name of the US company. Transbiodiesel CEO Dr. Sobhi Bashieer founded the company at the LN Technology Innovations Ltd. incubator's Agudat... [read full story]