Biofuel development company Qteros, which is headquartered in Marlborough, is getting $22 million in financing and has teamed up with an Indian company.
The venture-backed company will work with Praj Industries of India to accelerate the commercialization of industrial-scale ethanol production. Qteros has developed ways of producing low-cost ethanol and Praj specializes in optimizing biofuel production facilities. Qteros announced the partnership yesterday.
Today, Qteros announced it completed the initial steps to receive $22 million in new financing from “both existing and new investors.”
