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
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
Efficient lighting maker Fulham shines with $10M from Braemar
Braemar Energy Ventures, a regular backer of energy-efficient lighting startups, has given $10 million in equity to Fulham, maker and distributor of all kinds of lighting systems, which recently entered the light-emitting diode market.
Based in Hawthorne, Calif., Fulham also specializes in fluorescent ballasts and LED fixtures that regulate the flow of power in lamps. It will use its new financing to shift even more focus to newer technologies and to expand its sales organization around… Continue Reading
Nuventix snags $8M to cool LED lighting systems
Nuventix, provider of technology that cools light emitting diode lighting systems, just tacked $8 million onto its third round of funding. Basically, it’s able to silently pump air onto the lights to ensure they don’t overheat. With so much demand for LED lighting systems from the commercial sector and government infrastructure projects (e.g. street and traffic lights), they’re becoming a vital part of the new, more energy-efficient economy.
Based in Austin, Tex., the company says it… Continue Reading
OPX lands $17.5M for cheaper, faster biofuel production
OPX Biotechnologies, a biotech firm that focuses on engineering microorganisms to better break down organic products into cost-effective fuel sources, just closed its second round of funding at $17.5 million. The money will go toward construction of a demonstration plant slated to open in 2011 — laying the groundwork for broader commercialization a little over a year later.
This isn’t your standard ethanol or biodeisel production. OPX is altering the DNA of bacteria and fungi that… Continue Reading
PowerGenix gets $30M for electric scooter batteries
Alt-chemistry battery maker PowerGenix has significantly upped its funding with a $30 million fourth round. The company plans to make batteries for electric vehicles, power tools, electronics and other applications.
One of PowerGenix’s most ambitious plans is to crack into the market for electric scooters, which we recently covered. Its nickel-zinc (NiZn) batteries are cheaper than lithium-ion, the best battery type available, yet more powerful than standard lead-acids.
The company also has potential markets in hybrid electric… Continue Reading
Nuventix raises $14M for LED and electronics cooling technology
Austin, Texas-based Nuventix, which makes low cost, energy-efficient cooling technology for LEDs and consumer electronics, has received $14 million in third round funding led by Advanced Technology Ventures. Braemar Energy Ventures also joined the round.
The firm will use the proceeds to expand its range of LED cooling devices and to move into new markets. Its Synjet module uses pulses of air for rapid, precise spot cooling and thermal management. Nuventix says its high thermal efficiency… Continue Reading
PowerGenix hopes to overtake NiMH dominance with alt-chemistry rechargeable batteries
With the market for hybrid electric vehicles (HEVs) finally starting to heat up in earnest, several companies are making big bets on advanced rechargeable battery technologies. One of these is PowerGenix, a San Diego, Calif.-based startup that makes nickel-zinc (NiZn) batteries.
Another is ZPower, a startup that hopes to oust lithium ion as the dominant technology by developing advanced silver-zinc (AgZn) batteries. While they offer greater power density, AgZn batteries haven’t been used much because they… Continue Reading
Should tinkering with the planet be profitable? Some schemes seem worthwhile
A new study published in the journal Science has poured cold water on a proposed scheme to alter the planet’s climate by injecting sulfate particles into the stratosphere. The unorthodox strategy, boosted by several prominent scientists, including Nobel laureate Paul J. Crutzen, was meant to simulate the effects of a volcanic eruption: Sulfur particles released from aircraft or large balloons high in the stratosphere — like the soot and sulfur dioxide ejected by volcanoes — would… Continue Reading
Braemar Energy Ventures raises $250 fund, one of largest clean-tech funds yet
Braemar Energy Ventures said it has raised $250 million for its second fund to invest in clean-technology companies.
The New York based firm said its investors include many new institutions from the U.S., Europe and Asia: MassMutual, AlpInvest Partners, Morgan Stanley Alternative Investments, Robeco, GIC Special Investments (The Government of Singapore), Macquarie and the PCG Clean Energy and Technology Fund whose anchor investor is the California Public Employees’ Retirement System (CalPERS).
The Fund will typically invest $5… Continue Reading
Stion raises $15M, saying its solar technology won’t need subsidies
Stion is one of the now dozens of companies saying it is developing a more efficient solar power technology.
The Silicon Valley company (Menlo Park, Calif.) has raised $15 million in a second round of financing, saying its new material (the company won’t disclose which material it is) for manufacturing cells and modules will have a lower installation cost than all its competitors. Significantly, the company says it will be able to market its product without… Continue Reading
Coaltek, a “clean-coal” company, raises $33.4M more
Coaltek, a Tucker, Ga., company that tries to lower the greenhouse gas emissions created by the burning of coal, has raised $33.4 million in a third round of financing, according to VentureWire (sub required).
Lightspeed Venture Partners led the round, and was joined by existing investors Braemar Energy Ventures, Draper Fisher Jurvetson, Element Venture Partners, Technology Partners, and Warburg Pincus — brining the company’s total funding to more than $50 million in three rounds of funding.
The… Continue Reading