Cash rised for next stage, page-3

Thanks malmanu for pointing that out.

(i don't read HC every day, so my apology for d late response)


Theis article may answer your question
NewCO2Fuels Seeks Funding for Trial Plant to Turn CO2 Into Fuel

By Justin Doom Jun 19, 2014 4:02 AM GMT+1200
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NewCO2Fuels Ltd., an Israeli producer of systems that convert carbon dioxide emissions into synthetic gas, is seeking to close a Series B round to build a commercial-scale plant to further test its technology.

NewCO2Fuels has received a $3 million commitment from Greenearth Energy Ltd., an original investor, and will require about $5 million more to complete a trial plant, according to Chief Executive Officer David Banitt.

“We hope that this confidence signal from our original investor will help us to raise other funds from other sources,” Banitt said today in a telephone interview from the company’s Rehovot, Israel, headquarters.

Greenearth contributed to the company’s initial $9 million raise. NewCO2Fuels also received about $600,000 in government grants, Banitt said.

NewCO2Fuels uses extreme heat to convert carbon dioxide and water into synthetic gas than can be processed into fuel or chemicals, or used to generate electricity. Companies including steel and glass manufacturers could use the technology to turn otherwise wasted heat into power.

In some areas, heat from direct sunlight can produce the same chemical reaction. The trial plant should be finished in about 18 months.

“Providing solutions for global problems like CO2 emissions is very important, no doubt about it, but it has to be based on solid economic grounds,” Banitt said.
“Alternative fuel can be produced profitably.”

http://www.bloomberg.com/news/2014-...ng-for-trial-plant-to-turn-co2-into-fuel.html

Article sourced from..
http://www.newco2fuels.co.il/press-main/