You are at: Oilgae Blog.
Algae-based biofuel is getting pretty big—at least as an investment. Today, the Wall Street Journal reports that San Diego-based Sapphire Energy has closed a round of venture financing from Bill Gates’s investment arm, Kirkland, WA-based Cascade Investment. Sapphire Energy, which is working on oil-producing algae, has now raised a total of $100 million, and is also backed by Arch Venture Partners, Venrock, and Wellcome Trust.
According to the WSJ, Sapphire is working towards a 10,000-barrel-a-day algae-based oil facility, and can now concentrate on production and engineering problems. Meanwhile, Gates’s involvement may signal a broader interest in alternative biofuels.
Full story here
By the way, have you subscribed to the Oilgae Blog?; How about joining the Oilgae mailing list?
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment