US venture capital funds Burrill & Company and Khosla Ventures invest in biomass technology company HCL CleanTech

US venture capital firms Burrill & Company and Khosla Ventures have invested in biomass technology company HCL CleanTech, a US company and its Israeli subsidiary founded by Professors Avram Baniel, Professor Ari Eyal and Eran Baniel. Burrill & Company and Khosla Ventures were joined in this Series A round of financing by Zohar Gilon, the lead seed investor, alongside company founders. The proceeds will serve to continue R&D in Israel and build a pilot plant in the US to be completed in 2010.