Cleantech research racked up some significant funding over the past week, with corporate and government grants making it into technologies covering cellulosic biofuels, carbon capture, tidal and wave power, and fuel cells.

The biggest chunk of research cash was doled out by the U.S. Department of Energy, which handed out $126.6 million for two large-scale carbon sequestration projects.

In second place is the Berkeley, Calif.-based Energy Biosciences Institute, backed by London oil giant BP (NYSE: BP).

The institute started its first round of funding, announcing an initial set of 49 cellulosic biofuel research projects that will share a $20 million investment.

In Canada, fuel cell research received a boost, with the government putting $13.6 million into the National Research Council's Vancouver-based fuel cell and hydrogen research center.

And back in the States, the DOE is offering up some cash for marine power, making up to $7.5 million in funding available to support ocean wave, tidal, current and other water-based resources.

Deals we saw over the past week:

• Broomfield, Colo.-based solar installer Real Goods Solar (Nasdaq: RSOL) priced its initial public offering of 5.5 million shares at $10 per share. That's a 500,000 share boost from terms the company set last month, but at the bottom of an expected $10 to $12 per share range. The company said it plans to use $19.8 million of its expected proceeds to repay amounts owed to parent Gaiam (Nasdaq: GAIA), with the remainder of the cash going toward working capital and general corporate purposes, which it said could include future acquisitions (see Real Goods Solar prices IPO at bottom of range).
• Glen Allen, Va.-based Osage Bio Energy received $300 million in funding from private equity firm First Reserve to bring barley-based biofuel to the U.S. market. This is the first ethanol investment for First Reserve, which owns 100 percent of Osage Bio Energy. Osage said the cash would be used to fund the construction of four ethanol and protein feed production facilities in the Southeast (see Osage Bio Energy bringing barley ethanol to the U.S.).
• The Berkeley, Calif.-based Energy Biosciences Institute has started its first round of funding, announcing an initial set of 49 cellulosic biofuel research projects that will share a $20 million investment. The institute is backed by London oil giant BP, which last year said it put up $500 million for the research program, partnering with the University of California, Berkeley, the University of Illinois at Urbana-Champaign and the Lawrence Berkeley National Laboratory (see Energy Biosciences Institute funds first round of projects).
• The U.S. Department of Energy has put up funding for two large-scale carbon sequestration projects, awarding $126.6 million for testing of the technology in California and Ohio. The DOE said the cash would be used by the West Coast Regional Carbon Sequestration Partnership and the Midwest Regional Carbon Sequestration Partnership (see U.S. doles out cash for two carbon storage projects).
• The U.S. DOE is also making up to $7.5 million in funding available to support marine power technologies. The energy department said it's looking to partner with U.S. industry and universities to develop innovative and effective technologies capable of harnessing water power energy resources, including ocean wave, tidal, current and other water-based resources (see Marine power getting $7.5M in funding from U.S.).
• Fuel cell research in Canada received a boost in funding, with the government announcing a $13.6 million investment in the National Research Council's Vancouver-based fuel cell and hydrogen research center. The NRC said its Institute for Fuel Cell Innovation operates a Hydrogen Environmental Chamber that can simulate climatic extremes from polar to tropical environments, enabling small and medium-sized enterprises to test fuel cell ideas, complementing private sector investments in research and development (see Canada invests $13.6M in fuel cell research).
• BioBlend Renewable Resources, a Houston, Texas–based maker of bio-based lubricants, raised an undisclosed amount of second round funding. The investment was led by Archer Daniels Midland. Last year, BioBlend raised seed funding from Quest Technology Ventures.
• Boston-based cellulosic ethanol startup Mascoma raised $61 million in a third round of funding, with cash coming from Detroit-based General Motors (NYSE: GM) and Houston's Marathon Oil (NYSE: MRO). Marathon put up $10 million in the round, but the amount of GM's investment was not disclosed. Marathon and GM joined Mascoma's existing investors in the round, including Khosla Ventures, Flagship Ventures, Atlas Venture, General Catalyst Partners, Kleiner Perkins Caufield & Byers, Pinnacle Ventures and Vantage Point Venture Partners. Mascoma said Pinnacle Ventures also provided a $20 million debt facility.
• Brookings, S.D.-based ethanol producer VeraSun Energy (NYSE: VSE) has entered into a $125 million revolving credit facility with UBS Investment Bank. VeraSun said it plans to use proceeds from the credit facility for general corporate purposes. The company said the new credit facility would replace an existing $30 million credit facility.
• Israel Cleantech Ventures reached a final close of $75 million for its debut fund, exceeding an original target of $60 million. The fund was established to provide growth capital to entrepreneurs in Israel's energy, water and environmental sectors. Israel Cleantech Ventures has made seven investments to date, including fuel company CellEra, energy efficient lighting firm Metrolight, and electric vehicle charging group Project Better Place.
• Firefly Energy, a Peoria, Ill.-based developer of lead acid battery technology, has reportedly called down nearly $9 million of a $15 million Series C round. Khosla Ventures and Infield Capital are said to have come aboard as new investors. The company previously raised approximately $16 million from Stark Capital, KB Partners, Caterpillar, the Illinois Finance Authority and Tri-County Venture Capital Fund.
• Broomfield, Colo.-based cellulosic ethanol startup Range Fuels reportedly expanded its Series B round to $166 million, pulling in an additional $66 million. Morgan Stanley Capital Group is said to have been added to the list of investors on this round. Hedge fund Passport Capital led the Series B, with other backers including BlueMountain, Khosla Ventures, Leaf Clean Energy and Pacific Corporate Group.
• Bedford, N.H.-based Segway, maker of an electric, two-wheeled, personal transporter, boosted its third funding to $35 million, according to reports. The firm originally announced a $10 million third round of funding. Backers include Kleiner Perkins, CSFB Private Equity, the Masdar Clean Tech Fund, and Duff, Ackerman & Goodrich.
• Strategic Polymer Sciences, a State College, Penn.-based developer of polymeric electronic materials and devices for energy storage and medical therapeutics, raised $3 million in Series A funding. Chengwei Ventures and Life Sciences Greenhouse co-led the round, joined by Ben Franklin Technology Partners and Wilson Sonsini Ventures.
• Germantown, Md.-based Current Group has agreed to sell its existing smart-grid network in Dallas to Oncor Electric Delivery for approximately $90 million. Current Group, a provider of broadband-over-powerline solutions, has raised over $280 million from firms including Liberty Associated Partners, Goldman Sachs, GE Equity, EarthLink, EnerTech Capital and Hearst.
• Plano, Texas-based Safety-Kleen, an oil recycling and environmental services provider, has filed for an initial public offering to raise up to $300 million on the New York Stock Exchange The move comes more than four years after the company emerged from bankruptcy protection, and follows a major financial recapitalization of the group in 2006. A large chunk of the company is owned by Highland Capital Management, with Contrarian Capital Management, JPMorgan Chase, and the GSC Group also holding stakes in Safety-Kleen (see Safety-Kleen heads back to the public market).
• Melbourne-based Ceramic Fuel Cells (AIM: CFU) said that it plans to raise around $13.9 million in a placing of 35 million new shares. The company said the funds would provide additional working capital as it moves toward an introduction of its products in Europe. Ceramic Fuel Cells is developing energy efficient fuel cells that are designed to turn household boilers into mini power stations.
• Sydney-based ocean energy company BioPower Systems completed an Aus$6 million funding round. The private equity investment round was led by Lend Lease Ventures with additional investment from CVC REEF and CVC Sustainable Investments. BioPower said the new capital, together with a recently awarded Aus$5 million grant from the Australian government, would fund pilot programs for the company's ocean wave and tidal current power systems at grid-connected sites in Tasmania.

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