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Knight Ridder/Tribune Business News
Sep. 16--RICEX OFFERING GETS $1.5 MILLION: The RiceX Co., an El Dorado Hills company that produces food products out of rice bran, announced Tuesday it has raised $1.5 million in a private placement of its common stock.
"We're excited about this," said Karen D. Berriman, chief financial officer. She said the proceeds will allow the company to continue its product development projects.
Founded as Food Extrusion in 1989, the company has developed a way to halt the rotting of rice bran, a nutrient-rich byproduct of rice. The rice bran is converted for use in cereals, baked goods, cooking oils and an ingredient in …