Gevo, A Branson-Backed Biofuels Maker, Goes Public And Nets $95.7 Million

A Richard Branson- and Khosla Ventures-backed biofuels and biochemicals maker, Gevo , raised $170 million, netting an estimated $95.7 million after expenses and underwriting discounts, in an initial public offering yesterday. The company's technology and chemical processes use yeast biocatalysts to make isobutanol from sugar. Gevo's biofuels and biochemicals will offer an alternative to petroleum-derived butanol, and in some cases, other biofuels like ethanol.