Propel Gets $12M Funding For Biofuels Expansion

Sacramento-based Propel Fuels, a retailer of alternative fuel for motor vehicles, has scored $12M in Series C funding. The funding came from Craton Equity Partners, Nth Power, and @Ventures. Propel Fuels operates a network of eleven alternative fuel stations, selling ethanol and biodiesel. The investment will go to expands its network in California. The firm also said it had raised $8M in debt along with the equity funding. More information »