Argentine Keclon raises USD 600,000 initial capital

Mar 20, 2012 - Argentine biotechnology firm Keclon, dedicated to the development of enzymes for biodiesel production, has raised USD 600,000 (EUR 454,000) as seed capital in a recent funding round, the firm said yesterday.
Among the investors which took part in the round are Chilean scientist Pablo Valenzuela and venture capital fund Pymar Fund LP.
Keclon was set up in December 2011 by Hugo Menzella, Leandro Vetcher, Salvador Peiru and Sebastian Bernales.
The company's goal is to develop new and improved enzymes that reduce biodiesel production costs and provide high-quality biodiesel by eliminating impurities.
(USD 1 = EUR 0.756)

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