Although biofuel startup LS9 Inc. only in March raised $5 million in Series A venture funding, company president Robert Walsh said Tuesday at AlwaysOn's Going Green show in Davis, Calif., that LS9 already is looking to raise more funds as it prepares to build a pilot plant for its synthetic petroleum product. The company's biofuel is designed to closely resemble petroleum-derived fuels, yet be renewable, clean, domestically produced and cost-effective.

LS9 was founded in 2005 by two scientists and is backed by Flagship Ventures and Khosla Ventures. Walsh, chatting after sitting on a panel on biofuel technoloyg, said both venture firms will re-up in the second round of funding and that another venture investor would likely participate. --David Shabelman

See LS9 press release