Globes reports that Transbiodiesel Ltd. has raised $1.5 million from B. Gaon Holdings Ltd. (TASE: GAON) cleantech venture capital arm AquAgro Fund LP. Additionally it was reported that Transbiodiesel has also signed a cooperation agreement with a US biodiesel company. Transbiodiesel aims at solving the problem of biodiesel production by chemicals, which pollutes the land with its waste discharges. By producing biodiesel with enzymes three advantages can e achieved: ecofriendly production; substantially lower costs compared with current production methods; and the production of ecofriendly glycerin as a byproduct, which is a valuable raw material in several industries. The current chemical method for producing glycerin pollutes.