You don’t often see giants in the energy space such as BP and ConocoPhillips fork over investment dollars to alternative-energy start-ups, and it’s even less often that you see them team up with companies such as Google and General Electric in these sort of ventures.

If high-flying tech companies, blue-chip manufacturers, and the old guard of energy all see something in this company, it must be big.

Not only is the company looking to manufacture cellulosic biofuels in the range of 10 million gallons per year once its Alexandria, La., facility gets up and running, but it’s also manufacturing what are known as drop-in fuels.

CoolPlanet’s business model is the real reason companies are investing The product that CoolPlanet plans to sell is sounds very promising, but several other companies have made similar claims but never made it off the ground.

The final piece that makes BP, ConocoPhillips, GE, and Google all interested in this company is that it is a high-reward scenario with a rather marginal capital investment.

CoolPlanet does have some major competitive advantages over traditional ethanol producers, and the backing of major companies like BP and Google certainly helps its cause.

CoolPlanet isn’t a public company, but if it can prove its process to be commercially viable, then cellulosic biofuels may finally have a real shot at taking hold here.