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Sweetwater raises $4 million, SEC filing shows

By ANDREA DECKERT - 6/21/2012 3:39:53 PM

Sweetwater Energy Inc. has raised $4 million, filings with the Securities and Exchange Commission show.

The Rochester firm is led by Arunas Chesonis, co-founder and former chairman and CEO of Paetec Holding Corp.

Sweetwater Energy uses a technology to produce low-cost sugars from non-food plant materials. These industrial sugars are sold to refineries, which use them to produce biofuels, biochemicals and bioplastics.

Unlike petroleum-based technologies, Sweetwater Energy's process uses renewable plant materials that are grown domestically and significantly reduce greenhouse gas emissions, the firm has said.

In May, the company announced it had begun operation of its pilot-scale cellulosic sugar-processing facility.

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