xF Technologies, an advanced cellulosic biofuel company seeking to introduce novel oxygenates into the fuel supply, has raised approximately $239,000 of a planned $1 million funding round, according to a recent filing with the SEC. The company has developed a process and family of molecules that enrich existing petroleum fuels with oxygen. These advances improve fuel efficiency and performance, and reduce emissions and dependency on foreign sources of petroleum.
xF Technologies has now raised about $4.6 million in to-date funding, including a $2.68 million Series A round in September 2012 that valued the company at $7.6 million. The new capital was provided by existing investors Cottonwood Technology Fund and Sun Mountain Capital.