A Biofuel Station Coming to a Town Near You

Lines for dirty old gasoline could start getting a little shorter at Shell and ExxonMobil stations on the crunchy West Coast. Propel Fuels, a Sacramento, Calif.-based startup setting up a network of biofuel stations, said Wednesday it has raised $20 million to expand its network. The financing comes a week after the U.S. Environmental Protection Agency set a new renewable fuel standard, calling for 8.25% of the country's gasoline and diesel sales to be comprised of alternative fuels. The new mandate is likely to drive more biofuel investment in the future.