The federal stimulus bill included $2.6 million, those funds will be used for Chicopee pilot plant. Qteros has raised in excess of $25 million from venture capitalists.
Among Qteros’ backers are Long River Ventures of Hadley, Valero Energy Corp., BP, Soros Group and Venrock, the venture capital arm of the Rockefeller family.
If it is successful, a full-scale manufacturing plant could be built eventually on the same site, according to Jef Sharp, Qteros’ executive vice president.
“Over time, there is certainly the potential for 150 jobs at the facility,” Sharp said. “So this is a win for Qteros, but more importantly it’s a win for the community and win for the planet.”
