Several green-technology firms have made advancements in the production of renewable chemicals: Solazyme has raised a fresh round of funding to commercialize its algae-based fuel; SG Biofuels is about to build a research-and-development facility in San Diego to develop fuel from jatropha shrubs; Gevo has agreed to buy an ethanol facility in Minnesota; and Cobalt Technologies has selected an engineering firm to build n-butyl alcohol plants. Aside from Gevo, the companies are based in California, where bio-based firms have secured about 70% of second-quarter U.S. venture capital funding for green tech.

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