Total Energy Ventures Invests in NexSteppe
Total Energy Ventures, the venture capital arm of French energy company Total, is investing in NexSteppe, a startup that specializes in tailoring sorghum seeds for biopower, biofuel and biobased products.
Founded in 2010 in California, NexSteppe uses non-GMO hybridization techniques to develop and market sorghum seeds to supply fermentable sugars and lignocellulosic biomass to biobased industries. Its seed innovation capacity has considerable potential to make available — on a competitive, sustainable basis — bioresources that do not compete with food crops. Total has taken an interest in the startup with a view to expanding its R&D activities and facilitating its expansion in the biofuel and bioproduct segment.
Total Energy Ventures will sit on the company’s Board of Directors as an observer.
The acquisition of an interest in NexSteppe marks Total Energy Ventures’ eighteenth investment since its creation in 2008.