NEW YORK, Nov. 1, 2012 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc. (Nasdaq:TINY), an early-stage, active investor in transformative nanotechnology companies, notes the announcement by Cobalt Technologies, Inc., that Bunge Global Innovation LLC, a wholly-owned subsidiary of global agribusiness and food company Bunge Limited ("Bunge"), has joined its Series E Preferred Stock round as a strategic investor.
The investment follows Cobalt's agreement with Bunge and specialty chemicals company Rhodia Poliamida e Especialidades Ltda. ("Rhodia") to operate a pilot plant demonstrating the production of n-butanol utilizing sugarcane bagasse as feedstock at the Laboratório Nacional de Ciência e Tecnologia do Bioetanol facility in Campinas, Brazil. The terms of the agreement also provide for the parties to work together on co-location of a demonstration scale facility and to consider co-location of a commercial-scale biorefinery at a Bunge sugarcane mill. N-butanol is a widely used industrial chemical found in paints, lacquers and other surface coatings. Cobalt's press release may be accessed at http://www.cobalttech.com/news/news-item/cobalt-technologies-adds-bunge-as-strategic-investor/.
All institutional investors from previous rounds participated in the Series E Preferred financing, including Pinnacle Ventures, Malaysian Life Sciences Capital Fund, VantagePoint Capital Partners, The Whittemore Collection, Ltd., Life Sciences Partners (LSP), @Ventures and Harris and Harris Group.
Detailed information about Harris & Harris Group and its holdings can be found on its website at www.HHVC.com.
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