
A private equity company recently invested $355 million in a company that will support technology to improve green energy sources.
Warburg Pincus LLC, which has more than $30 billion in assets under management, recently gave the generous investment to First Green Partners, a Minneapolis-based company that advances technology in renewable energy sources.
First Green Partners provides funding for start-up companies that aim to convert non-food biomass and carbon dioxide into fuels and chemicals, according to a statement issued by the company.
"There is a mismatch in the marketplace between the advanced technologies and innovations related to the carbon-value-chain that can change the energy landscape and the lack of capital to help commercialize them," venture capitalist Doug Cameron said in a statement quoted by the Minneapolis Star Tribune. "We believe now is the perfect time to provide First Green's capital and expertise to make these emerging technologies a commercial reality."
Companies are able to receive as much as $100 million in invesments from First Green Partners and initial investments will range from $500,000 to $10 million, the company reported.
According to the website Smart Energy News, First Green sees its specialty as "green-black" technologies, with new biofuel applications substituting existing industrial structures.

