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 algae this year recently are Aurora Biofuels, which got $20 million in June, and Sapphire Energy, which raised $50 million in late May.
Taking part in Solazyme’s funding were the Roda Group, Jazem I Family Partners, Harris & Harris Group, Braemer Energy Ventures and Lightspeed Venture Partners. The company had previously taken about $8 million in equity funding and $7 million in debt.
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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.