Xconomy: Targeted Growth Plots Future as Agricultural Biotech, Cleantech Pioneer
Summary
Targeted Growth Plots Future as Agricultural Biotech, Cleantech Pioneer (Page 2 of 2) which is paying “millions” while it prepares to launch a new kind of food crop seed, which will need to win FDA approval before it can reach the market, hopefully in a couple years, Todaro says.Camelina is used to make jet fuel, and what Todaro calls “Sugarcorn” is used as a feedstock for simple sugars that are refined into ethanol.The company walked away from a financing term sheet last fall, in which it could have raised tens of millions of dollars.Todaro was unapologetic about this point (which I’m sure must make many entrepreneurs scratch their heads in this environment).I’d rather make $10 tomorrow than $1 today.” Confident as he may be, he wouldn’t go so far as to predict when the company will turn profitable.