Incitor Incorporated Receives $1.5 Million Series A Investment
(BusinessWire) Rapidly Growing Renewable/Biomass Energy and Chemical Company Receives Funding Led by the Cottonwood Technology Fund
Incitor Incorporated (“Incitor”), a Delaware Corporation based in Albuquerque, N.M. ( http://www.incitor.com ), announced today that the Cottonwood Technology Fund (“Cottonwood”) ( http://www.cottonwoodtechnologyfund.com/ ) led an investment group to fund Incitor’s next growth phase.
Incitor’s patent-pending low-temperature chemical process breaks down almost any biomass from agricultural, solid, woody or algal waste to create commodity petrochemical replacements, specialty bio-based chemicals, and Alestron(TM), a novel third generation biofuel compatible with both gasoline and diesel. Incitor is rapidly scaling up its process to a 15,000-30,000 gallon per year demonstration facility. Incitor’s technology will allow biofuel production at about $2/gallon and also reduces the production cost of important industrial chemicals such as levulinates, formates, and proprionates by about 80%. READ MORE