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Propel Fuels of Sacramento receives $20-million investment

By Tiffany Hsu
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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.

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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

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Tiffany Hsu

Tiffany Hsu is a former staff writer for the Los Angeles Times. Previously, she wrote about the California economy, fast food, restaurants, retail and alternative energy for the Business section. A Bay Area native, UC Berkeley graduate and eternal Nor-Cal fan, she once worked for the San Francisco Bay Guardian. She also did a stint at the Richmond Times-Dispatch, where she developed a passion for sweet tea. She still has faith that someday she’ll find two economists who agree.

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