Propel Fuels Drives into Series D with a Clean $21M
December 13, 2012
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Nth Power, Craton Equity Partners, @Ventures and Gentry Venture Partners have all pitched in for an $11 million round of Series D equity financing for Propel Fuels, a provider of environmentally friendly alternative fuels for motor vehicles. CapX Partners also provided $10 million in debt financing, bringing the company’s funds to $21 million. In a press release, the company’s CEO, Matt Horton, stated: “This new funding, combined with grant funding from the State of California, will enable us to accelerate the build out of our alternative fuel stations across state, offering consumers true choice and a better experience at the pump.” Previously, Propel raised a $20 million Series C round in February of 2010.
