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This is a June 2008 news item, but I felt it could be interesting.
Aurora Biofuels, an algae-to-biodiesel startup, said that it’s raised a second round of funding of $20 million; Oak Investment Partners, Gabriel Venture Partners and Noventi were included in the round.
Developed at the University of California at Berkeley, the company was founded in 2006 and uses genetically modified algae to create biodiesel. So far the company has been working in the labs and at pilot scale. Caspari says Aurora intends to be “the lowest cost producers” of algae for biofuels.
Aurora uses an open pond system to grow its algae, which is less expensive than the “closed system,” but keeping out “weed” organisms is difficult.
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