Luca Technologies Raise $3M

Luca Technologies, LLC (Golden), has raised $3M from BASF Venture Capital GmbH, the corporate venture capital company of the BASF Group.

Luca develops biotechnology that uses bacteria to reactivate the production of methane (natural gas) from fuels such as coal or oil. The technology platform is based on the discovery, characterization and management of naturally occurring anaerobic microorganisms that metabolize oil, organic-rich shale and coal within the earth into natural gas, thus generating clean renewable energy in a continuous, "real time" fashion. LUCA employs genomics, molecular biology and other tools of biotechnology to detect, classify and study these organisms and the underground "Geobioreactors" in which they act. Company scientists are also developing methods of managing specific consortia's gas production capabilities in situ for the large-scale production of natural gas and potentially, hydrogen.

Snell & Wilmer represented BASF Venture Capital America in the transaction.