2
Jun
2008
Funding Roundup: Solar, Biofuels Dominate Light Week
Jennifer Kho and Ucilia Wang, Greentech Media
San Diego-based Sapphire Energy has raised more than $50 million and has access to plenty more, according to VentureBeat. The 1-year-old company said it has developed an alga that produces a bio-based crude oil that can be processed by existing refineries. Competitor LiveFuels also has been working to develop algae that can produce biocrude, but algae has so far proven difficult to grow cheaply in large quantities.
