Money

Aurora Biofuels

Aurora Biofuels, Alameda, California

Aurora Biofuels Secures $15M in Funding,

Appoints Scott McDonald CFO

March 17, 2010 Aurora Biofuels, Inc. has secured an additional $15 million in a recent funding round led by Oak Investment Partners, with the continued support of Gabriel Venture Partners and Noventi Ventures. This third round of financing brings the total amount of money raised by the company to more than $40 million. The new funding will be used to support the continued path to commercialization for its advanced algae biofuel technology.

Additionally, the company has hired Scott McDonald, a veteran Silicon Valley executive, as its Chief Financial Officer. Mr. McDonald brings to Aurora Biofuels a 25-year history in executive management and in planning and executing corporate strategy. He has substantial experience in operations, administration and financial oversight, and has helped to build and scale many successful startup and high growth companies.

“This additional investment will be critical as our company expands its field of operations and further optimizes its technology,” said Mr. McDonald.

Brian Hinman, Oak Venture Partner and Aurora Director, added that “Aurora Biofuels has made a significant genetic engineering achievement in doubling the productivity of its proprietary algae, and this round of funding will allow the company to demonstrate the productivity and production processes at scale.”

Mr. McDonald has lead private and public company financings, mergers and acquisitions, financial restructurings, and system implementations for Castelle (CSTL), where he was Chief Executive Officer; Conxion Corporation, where he was Chief Financial Officer and Chief Administrative Officer; and at CIDCO Inc. (CDCO), where he was Chief Operating Officer and Chief Financial Officer. Mr. McDonald holds a BS in Accounting from the University of Akron and an MBA from Golden Gate University. —A.I.M.

Copyright ©2010 AlgaeIndustryMagazine.com. All rights reserved. Permission required to reprint this article in its entirety. Must include copyright statement and live hyperlinks. Contact editorial@algaeindustrymagazine.com.

FREE Algae News & Updates

Sign up to receive breaking A.I.M. updates!

From The A.I.M. Archives

— Refresh Page for More Choices
Natural carotenoid specialists Piveg Inc., with production facilities based in Celaya, Central Mexico, has announced immediate availability of natural astaxanthin materia...
Scientists at the Energy Department’s National Renewable Energy Laboratory (NREL) have demonstrated that just two of six iron-sulfur-containing ferredoxins in a represent...
Algae.Tec Ltd has received its first purchase order from Reliance Industrial Investments and Holdings Limited (RIIHL), in connection with the arrangements announced on Ja...
In a global scenario where increasing attention is being directed towards issues of sustainability and limited food supplies, algal sources offer immense scope for the ra...
Solazyme, Inc. has announced results for the fourth quarter and full year ended December 31, 2013. “2013 was a year of great progress for Solazyme as we readied our first...
Technical standards define critical terms and metrics to add wisdom for the algae industry. Agreement among science and business leaders represents possibly the most diff...
Algal oil represents one of the significant segments within the omega-3 polyunsaturated fatty acid (PUFA) ingredients market. Specifically, docosahexaenoic acid (DHA) is ...
Although the use of whole microalgae in animal diets has long been studied, the 
de-fatted biomass of microalgal species, derived from biofuel production research, has on...
A new, outdoor system at the University of Dayton Research Institute has been producing a high volume of algae since its installation in the summer of 2013, even through ...
Kazuaki Nagata reports from Japan that while the Fukushima nuclear disaster has prompted vigorous discussion about alternative energy in Japan, there is a lack of a paral...
A University of New South Wales (UNSW)-led team of researchers has discovered how algae that survive in very low levels of light are able to switch on and off a weird qua...
Jamie Radford writes in the Illawarra Mercury that Pia Winberg, from the University of Wollongong, believes that the South Coast of New South Wales, Australia (NSW) is in...
Algae manufacturer Cyanotech Corporation has announced implementing three major initiatives to improve Astaxanthin production at their Kailua Kona, Hawaii-based cultivati...
Steven Mufson reports for the Washington Post that Algenol Biofuels estimates hackers have attempted to break into its computers 39 million times in four months this year...
Matthew Carr was recently named executive director of the Algae Biomass Organization (ABO), the leading trade association for the algae industry. His presence will soon b...
Phys.Org reports that scientists Jolanda Verspagen and Jef Huisman of the University of Amsterdam, The Netherlands have concluded that rising CO2 concentrations in the at...
Expanding from its initial work in algal biofuels, General Atomic’s (GA’s) Advanced Biological Processes team has focused on the rising need for food globally, specifical...
Portuguese cement facility, Secil, and microalgae biotechnology company, A4F, also based in Portugal, have formed AlgaFarm, a joint venture to develop the use of cement f...