Propel Fuels of Sacramento receives $20-million investment

Propel Fuels received $20 million in funding, the renewable-fuels retailer said Wednesday.

Along with a $12-million investment from Craton Equity Partners, Nth Power and @Ventures, the company received $8 million in debt financing.

The funds will go toward expanding Propel’s network of Clean Fuel Points – alternative-fuel stations for clean vehicles – in California.

Sacramento-based Propel operates 11 stations and several offices in California and Washington state. Most stations are sited at existing gas stations and offer ethanol and biodiesel.

-- Tiffany Hsu

Comments

[Duda]

This is good. A grant to give another good business a shot at doing something.