A new green chemistry star is born
Minneapolis, Minnesota - January 06, 2010.
Reluceo, Inc., a new green chemical start-up company has been launched in the Twin Cities. Reluceo has secured Series A funding from Khosla Ventures. The funding will be used to continue the development of Reluceo's portfolio of renewable products. Alex Kinnier, General Partner at Khosla Ventures, has joined Reluceo's board of directors. Sergey Selifonov is serving as the company's president and chief technology officer. Olga Selifonova is serving as the company's chief executive officer. Sergey and Olga, as Segetis and Reluceo founders, will continue to work on their vision for a more sustainable future.
"Sergey and Olga are two of the most creative minds in the green chemicals world. I am pleased to be supporting them on their quest to revolutionize the way today's consumer products interact with the environment", said Alex Kinnier.
About Khosla Ventures
Khosla Ventures offers venture assistance, strategic advice and capital to entrepreneurs. The firm helps entrepreneurs extend the potential of their ideas in breakthrough scientific work in clean technology areas such as solar, battery, high efficiency engines, lighting, greener materials like cement, glass and bio-refineries for energy and bioplastics, and other environmentally friendly technologies as well as traditional venture areas like the Internet, computing, mobile and silicon technology arenas. Vinod Khosla founded the firm in 2004 and was formerly a General Partner at Kleiner Perkins and founder of Sun Microsystems. Khosla Ventures is based in Menlo Park, California.
Reluceo, Inc. is a privately held green chemical company located in Minneapolis. The company is targeting novel functional polymers for replacing major consumer products carrying detrimental environmental impact and biodegradable plastics that can be responsibly manufactured with use of non-food biomass sources such as crop and wood residues.
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