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Catilin ( http://www.catilin.com ), a company transforming the biodiesel production process, announced today that it has raised $3 million in Series A financing led by MDV-Mohr Davidow Ventures. The funds will be used to build out a pilot production facility, continue groundbreaking research, and build the Catilin team.
Catilin has developed a unique process for biofuels production that
greatly reduces the cost of biodiesel, and promises to make biodiesel cost
competitive with diesel without government subsidies. The process works
much faster with far fewer production steps, and it works with existing
biodisesel production facilities. The Catilin process works on a broad
range of feedstocks - from soybean oil to animal fats, and greatly reduces
water consumption and environmental contaminants.
"Catilin has unique IP and offers biofuels producers an unbeatable
business proposition -- lower costs and feedstock flexibility," said Erik
Straser, MDV Partner and Catilin board member. "Biodiesel traditionally has
been held back by feedstock constraint, but that's no longer the case here.
We spent considerable time looking for the right combination of
breakthrough technology and business model and feedstock flexibility.
Catilin's nanotechnology allows biodiesel producers to get maximum profit
from any feedstock at any time and fewer processing steps lead to lower
The pioneering technology was developed by renowned Iowa State
University chemistry professor, and U.S. DOE Ames Laboratory senior
scientist, Victor Lin. Joining Dr. Lin to develop the business are three of
Dr. Lin's post-doctorate research scientists as well as MDV
Executive-in-Residence, Larry Lenhart, who will serve as CEO. The company
will use the BECON (Biomass Energy Conversion Center) facility for its
pilot biodiesel production.
"Iowa State University is ground zero for research and development in
alternative fuel technologies," Lenhart said. "Catilin's proven technology
focuses on biodiesel, the fastest growing alternative energy source while
offering the advantage of working seamlessly with existing worldwide
biodiesel production facilities. Catilin moves us closer to meeting
critical national objectives like energy security, agricultural renewal and
"We are very excited about this new partnership with MDV," said Victor
Lin. "MDV is well-known for their success in helping startup companies make
the transition from initial concept to full-fledged operations. The large
network of industrial experts and the hands-on approach of MDV will provide
invaluable support for the commercialization of Catilin technologies."
About MDV-Mohr Davidow Ventures
MDV is a leading early stage Silicon Valley-based venture capital firm
that for nearly 25 years has identified, mentored and developed
entrepreneurs and young companies redefining business technology and
medicine. The firm invests around three major business and science
concerns: Powering the Planet; Personalizing Medicine; and Driving the
Digital World. The firm partners with entrepreneurs who have deep expertise
in energy and materials, life sciences, and the Internet. MDV's team
engages very early in the life of a company to impact its long-term
success. Category-leading companies funded by MDV include Agile, Brocade,
Energy Innovations, Epigram (BRCM), FormFactor, Ipsilon Networks (NOK),
Kalpana (CSCO), Nanosolar, NeuroMolecular Pharmaceuticals, ONI Systems
(CIEN), ParAllele (AFFX), Pivotal Technologies (BRCM), Revenue Science, and
Shutterfly. MDV has $1.4 billion dollars under management. For more
information, visit http://www.mdv.com .
Commercialized out of the pioneering biofuels research at Iowa State
University, located in Ames, IA, Catilin is transforming the biodiesel
production process through the introduction of an easily recoverable,
recyclable and heterogeneous solid catalyst. Biofuels operators that employ
Catilin's technology will be able to consume both high and low free fatty
acid feedstocks at significantly lower production costs without
environmental contaminants traditionally associated with biodiesel
production. For more information, visit http://www.catilin.com .
For more information, please click here
2077 Roy J. Carver Co-Lab
Ames, IA, 50011-3650
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