Colorado offers $3 million in tax credits to lure biomass company Cool Planet to the state

Company could bring 400 jobs, biofuel industry

DENVER - The Colorado Economic Development Commission has offered $3 million in tax credits to persuade the biomass company Cool Planet to move to the state.

Cool Planet Energy Systems could bring nearly 400 jobs to the metro area and place the state at the center of a biofuel revolution.

The California startup, located in Ventura County, says it has a process that can generate gasoline out of plant waste or biomass without relying on federal subsidies.

According to the Denver Post, Cool Planet is looking at either Texas or Colorado as the future home of its corporate headquarters and first large-scale production facility.

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