Ethanol Start-Up Eyes Move To Marlborough
South Hadley-based Qteros, formerly SunEthanol, is moving to the Worcester area, according to a Sunday report in The Republican American of Springfield, and it appears the company wants to move to Marlborough.
William Cowen of Long River Ventures of Worcester, one of a group of venture companies that recently invested $25 million in the startup, and Tom Wellen, executive director of Marlborough 2010 Corp., a quasi-public economic development organization, said the company is negotiating a lease in the city.
The company discovered what it calls the "Q"microbe in the soil of the forested area around the Quabbin Reservoir. It believes the microbe can be used to consume plant matter that can then be turned into ethanol.
The company said it plans to go from a pilot to full-scale demonstration project and then full commercialization within three years.
Among the other investors are Venrock Associates, BP plc and Soros Fund Management LLC. The Soros Fund is run by international hedge fund tycoon George Soros.
Representatives of Qteros did not return phone calls seeking comment this morning.
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