Propel Fuels of Sacramento receives $20-million investment
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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.
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