Virgin Fuels has invested an undisclosed amount in biofuel producer Gevo Inc. The investment comes as part of a Series B venture round share release, and Virgin will join the Gevo Board as part of the deal.

"Gevo aims to represent not only a step toward true energy diversity for the country, but yet another cost-effective alternative to fossil fuels," said Vinod Khosla, managing partner of Khosla Ventures, which was the original venture investor. Khosla recently told biotechnology industry representatives that he believes biofuels could someday replace 100% of fossil fuels. "Major credit should be given to the founders of Gevo and the Caltech team for their groundbreaking work with biological systems toward new developments in alternative energy."

"Mitigating the effects of climate change will require incredible efforts around the globe," said Virgin's Richard Branson. "Through Virgin Fuels, we look for investments in companies - such as Gevo, Inc. - that will help to significantly reduce net greenhouse gas emissions, improve management of scarce resources, and have a long term positive impact on our society."