You are at: Oilgae Blog.
The financial situation at GreenFuel Technologies had been degrading since last year, despite the fact that the company had landed a $92 million deal to sell algae-growing greenhouses to a cement maker in Spain.
In January 2009, the company laid off about half its staff, bringing the number of employees to 19. At the time, employees complained that the operation and finances were mismanaged.
Investor Duncan McIntyre of Polaris Venture Partners confirmed GreenFuel Technologies' demise, saying that the company is a "victim of the economy."
McIntyre said investors, who have raised more than $70 million for GreenFuel Technologies since 2001, are exploring ways to sell the company's intellectual property and assets.
See more
Related blogs:
GreenFuel Cuts Staff, Outsources Aurantia Cement Factory Project
By the way, have you subscribed to the Oilgae Blog?; How about joining the Oilgae mailing list?; and our forum to discuss on with others?
Subscribe to:
Post Comments (Atom)
Duncan McIntyre of Polaris Venture Partners confirmed GreenFuel Technologies' demise, saying that the company is a "victim of the economy." and Santa Claus is real. With 11 Execs and a Board that never focused on growing algae but on building business operations that spent $70 million in 8 years, mostly on agressive PR not in the trenches. The kid that gave me a tour showed all the expenses but no results.
ReplyDeleteVIRUS REMOVAL
ReplyDeleteIs Your Computer Sluggish or Plagued With a Virus? – If So you Need Online Tech Repairs
As a leader in online computer repair, Online Tech Repairs Inc has the experience to deliver professional system optimization and virus removal.Headquartered in Great Neck, New York our certified technicians have been providing online computer repair and virus removal for customers around the world since 2004.
Our three step system is easy to use; and provides you a safe, unobtrusive, and cost effective alternative to your computer service needs. By using state-of-the-art technology our computer experts can diagnose, and repair your computer system through the internet, no matter where you are.
Our technician will guide you through the installation of Online Tech Repair Inc secure software. This software allows your dedicated computer expert to see and operate your computer just as if he was in the room with you. That means you don't have to unplug everything and bring it to our shop, or have a stranger tramping through your home.
From our remote location the Online Tech Repairs.com expert can handle any computer issue you want addressed, like:
• - System Optimization
• - How it works Software Installations or Upgrades
• - How it works Virus Removal
• - How it works Home Network Set-ups
Just to name a few.
If you are unsure of what the problem may be, that is okay. We can run a complete diagnostic on your system and fix the problems we encounter. When we are done our software is removed; leaving you with a safe, secure and properly functioning system. The whole process usually takes less than an hour. You probably couldn't even get your computer to your local repair shop that fast!
Call us now for a FREE COMPUTER DIAGONISTIC using DISCOUNT CODE (otr214427@gmail.com) on +1-914-613-3786 or chat with us on www.onlinetechrepairs.com.