Luminus Devices and Range Fuels were the big winners over the past week, with investors shining on LEDs as well as cellulosic ethanol, but the market was a bit too rough for biodiesel producer Renewable Energy Group.

Billerica, Mass.-based Luminus pulled in $72 million for its energy efficient lighting, and plans to expand from displays into specialized lighting products.

Range Fuels, based in Broomfield, Colo., reportedly raked in $100 million in new funding for its cellulosic ethanol technology. The biofuel developer is building a 20 million gallon per year plant in Soperton, Ga.

Iowa biodiesel producer Renewable Energy Group canceled its planned $150 million initial public offering, citing current market conditions.

This is the second biodiesel IPO to get pulled this year, with Seattle's Imperium Renewables withdrawing its share sale in January.

Rounding out the news is the Netherlands fabless display maker Liquavista raising €8 million in a Series B, Bourne, Mass.-based Environmental Operating Solutions completing an initial tranche of $2.5 million in institutional financing, and more.

Deals we saw over the past week:

• Bristol, England-based Marine Current Turbines raised £4.8 million, led by ESB International, part of Ireland's national electricity company. ESB put up £3 million, with Hazel Capital also participating, as well as existing shareholders EDF Energy, BankInvest and Triodos Bank. ESB also signed a five year power purchase agreement for electricity from Marine Current's 1.2 megawatt SeaGen tidal system, to be installed in Northern Ireland's Strangford Lough.
• Menlo Park, Calif.'s Sherpalo Ventures is reportedly looking at investing in cleantech. Ram Shriram, head of Sherpalo and a founding board member of Google, has told reporters that his group is looking at clean energy for its next investment. Sherpalo supports early-stage technology companies, with its portfolio including online firms Plaxo, Zazzle and Cleartrip.
• Advanced Power Projects of Fremont, Calif., headed up by Calpine founder and former CEO Pete Cartwright, raised an undisclosed amount of Series A financing. Bay Partners and Sequoia Capital co-led the round, with Redpoint Ventures and Aubrey McClendon also participating. Advanced Power said its simplified combined cycle process can reduce the cost of power generation for existing power plants and new alternative energy facilities.
• Sweden's Norstel, a manufacturer of silicon carbide wafers and materials, raised €15 million in venture capital funding. Investors include Northzone Ventures, Eqvitec and Creandum. Norstel said electronics using its wafers can reduce energy loss by up to 50 percent compared to the same device manufactured with conventional silicon technology.
• Renewable Energy Group, a Ralston, Iowa-based biodiesel producer, has canceled its initial public offering, citing current market conditions. The company filed last July to raise up to $150 million, with Credit Suisse set to serve as lead underwriter. Natural Gas Partners led a $100 million Series A round for Renewable Energy Group in 2006, with Bunge North America, ED&F Man and West Central Cooperative also participating (see Renewable Energy Group cancels IPO).
• Terra Firma Capital Partners reportedly may challenge 3i Group's £112 million bid for London-based renewable energy company Novera Energy. Infinis Acquisitions, a Terra Firma-backed landfill gas business, is said to have approached Novera in February. Novera has a mix of landfill gas, hydro and wind farm energy developments. 3i has built up a 10 percent stake in Novera.
• Bourne, Mass.-based Environmental Operating Solutions completed an initial tranche of $2.5 million in institutional financing. The round was led by Stuart Mill Venture Partners. A second tranche is expected to close in the second quarter. Environmental Operating Solutions develops and markets green chemicals specifically engineered for the purification of water.
• Luminus Devices, a Billerica, Mass.-based maker of LEDs display and illumination applications, raised $72 million in Series E funding. Braemar Energy Ventures led the round, joined by CMEA Ventures, Paladin Capital Group and return backers Battery Ventures, Argonaut Private Equity, Draper Fisher Jurvetson, DFJ New England, Eastward Capital and Stata Venture Partners. (see Luminus broadens its LED future).
• Liquavista, a Dutch fabless display manufacturing company, pulled in €8 million in Series B funding. Return backers include Amadeus Capital, GIMV and New Venture Partners. Liquavista said its electrowetting displays are brighter and use less power than LCDs.
• Philadelphia-based RecycleBank, which partners with cities and businesses to reward households that recycle, reportedly raised $30 million in Series B funding. Kleiner Perkins Caufield & Byers is said to have led the round, joined by return backers RRE Ventures and Sigma Partners. The company previously raised $13.1 million in a Series A.
• US Renewables Group and Riverstone Holdings have agreed to provide an undisclosed amount of development capital for Oregon's Newberry Geothermal project. The Newberry project has a 20 year, 120 megawatt power purchase agreement with California utility PG&E. The project is managed by Davenport Power.
• Broomfield, Colo.-based Range Fuels, a developer of cellulosic ethanol production technology, has reportedly taken in $100 million in new funding. An undisclosed energy investor is said to have led the round with $25 million, with existing shareholder Khosla Ventures putting up another $25 million.

Browse previous deals here.

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