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Chemical Week Magazine :: Other
Algae Firm Raises $144 Million for Demonstration Facility
6:56 AM MDT | April 20, 2012 | Rebecca Coons
Sapphire Energy (San Diego) has secured $144 million in series C funding to help fund a Luna County, NM algae-based crude oil demonstration facility. Series C backers include Monsanto, Arrowpoint Partners, and other undisclosed investors. The additional funding puts Sapphire Energyâ€™s combined public and private financing above $300 million. Monsanto took an undisclosed equity stake in the firm in March of last year, and the two firms agreed to use Sapphireâ€™s technology platform to discover genes in algae that could be used to improve yield and stress...
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