Algal biofuel firm AXI receives seed funding
AXI, a spinoff from a University of Washington research group, has taken seed funding to design algae to produce biodiesel.
The company is based on the work of Dr. Rose Ann Cattolico, a long-time algae researcher at the university. It already has its own proprietary algae strains, but did not make clear whether it would put the organisms to work in an open pond or closed system.
Allied Minds, a local investment firm, provided the funding, but did not disclose the amount.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.