Navy taps Solazyme to make jet fuel out of algae
The Pentagon announced today that it has chosen San Francisco-based biofuel company Solazyme to supply the Navy with jet fuel made entirely of algae derivatives. This isn’t the first time it has worked with the military, having already had its research and development funded by the Navy in exchange for 20,000 gallons of fuel for its ships.
The oils produced by Solazyme’s algae act as a full replacement for petroleum-based fuel, not simply an additive. Some… Continue Reading
Chevron chips in $25M for biofuel company LS9
LS9, perhaps the company to watch synthesizing biofuels and chemicals from organic feedstocks like switchgrass, has brought in $25 million in a new round of capital from Chevron Technology Ventures, Khosla Ventures, Lightspeed Venture Partners and Flagship Ventures.
This is the second big win, the South San Francisco company has had recently. In May, it also landed a deal with corporate giant Procter & Gamble to make consumer chemicals from renewable and sustainable sources. Right now, its… Continue Reading
Solazyme wins big with $57M for renewable oil
Solazyme, producer of renewable oil derived from algae, just raised $57 million in third-round funding to bring its total capital to more than $76 million. In addition to producing so-called green fuels, the San Bruno, Calif., company is expanding its eco-friendly chemicals business — an increasingly common move for companies in the biofuel space. It is also exploring nutritional and cosmetics opportunities.
The bulk of the funding came from VantagePoint Venture Partners, which has made a… Continue Reading
Algal biofuel firm Solazyme scores $45M
Solazyme, a South San Francisco, Calif. company that makes biofuels and other products from algae, has raised $45 million or more toward its latest funding, according to VentureWire.
Early this year, Solazyme entered into a partnership with Chevron to develop its fuels. The company has also tested its biodiesel on the road in a standard diesel car, and has plans for product lines outside of the fuels, including nutrition.
Also having taken funding to create fuel from… Continue Reading
Algae bloom: Solazyme inks development deal with Chevron
Continuing the trend of major oil companies taking interest in producing biofuels from algae that Royal Dutch Shell started last December, Chevron has opened a deal with Solazyme, a San Francisco biotech startup.
The partnership follows an agreement Chevron made last year with the Department of Energy to produce fuels from algae, while Solazyme, which works in several areas outside biofuels, has become more focused on algae in recent months.
Solazyme also announced today that it has… Continue Reading
Solazyme, a microalgae-to-biofuel company, gets $5M
Solazyme, a South San Francisco company developing biofuels and health products from microalgae, has raised $5 million in debt from BlueCrest Capital Finance, the companies said today.
From a statement:
“The company’s biodiesel and biocrude products address an immensely large and expanding market need for clean energy solutions, and we are impressed with the team’s ability to leverage their algae expertise into industrial chemicals, cosmetics and nutraceuticals.”
The company’s products in the clean energy sector include biodiesel and… Continue Reading
LiveFuels raises $10M to turn algae into alternative fuel
LiveFuels, a Menlo Park, Calif. company seeking to turn algae into an alternative fuel, has raised a $10 million round of capital.
The investor was David Gelbaum at the Quercus Trust, which has previously backed environmental organizations such as the Sierra Club and the Wildlands Conservancy.
We reported earlier that LiveFuels was looking to raise the money, and ran a column by LifeFuels’ founding investor Rich Hilt about why using algae makes sense.
Why algae? Well,… Continue Reading
Solazyme, raises more than $10M to develop algae for biofuels, cosmetics
Solazyme, a Menlo Park company that developing ways to use algae to produce biofuels and cosmetic treatments, says it has raised $8 million in a second round of funding, led by the Roda Group.
Additionally, it says it raised more than $2 million in venture debt.
News of the funding was reported in VentureWire (sub required), and was expected (see earlier report).