PetroAlgae chances weak green IPO market with $200M filing

PetroAlgae, a company claiming that it has found a cheap way to convert algae into fuel — a goal that formidable competitors like Sapphire Energy and Solazyme are also chasing — just filed for a $200 million IPO despite a weak public market for green companies. Early signs suggest that this move could do more harm than good to the burgeoning algae industry.