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Ceres seeks $100 million from IPO

US energy crop developer Ceres (Thousand Oaks, California) is to float on the US stock exchange. The company focuses on developing biomass feedstocks. It filed an initial public offering for $100 million with the US Securities and Exchange Commission last month. Ceres plans to use the funds raised to further develop sorghum for biomass production, particularly for use as “drop-in” feedstock in order to extend the operating season of Brazilian sugar cane-fed ethanol production mills using sugar cane as a feedstock.

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