CNET News: Wood Chips to Take Acid Bath en route to Biochemicals

Startup Virdia is joining hundreds of biotech companies trying to make low-cost sugar to replace oil and food crops.

The company today announced new financing, including $30 million of venture capital from existing investors Khosla Ventures, Burrill & Company and Tamar Ventures. Mississippi also provided the company with $75 million in low-interest loans and tax incentives to build an operation in the state.

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