[ad#PhycoBiosciences AIM Interview]

Money

Sapphire Energy’s Integrated Algal Biorefinery

Sapphire Energy’s Integrated Algal Biorefinery, under construction in Columbus, New Mexico

Sapphire Announces $144 Million Series C Funding

April 2, 2012
AlgaeIndustryMagazine.com

Sapphire Energy has announced it has secured the final tranche of a $144 million Series C investment funding. The Series C backers include Arrowpoint Partners, Monsanto, and other undisclosed investors.  All major Series B investors have participated. With this investment round, Sapphire Energy’s total funding from private and public sources substantially exceeds $300 million.

This round of funding is being used to directly support Sapphire Energy’s active and on-schedule commercial demonstration in Luna County, New Mexico. The Green Crude Farm, also known as the Integrated Algal BioRefinery (IABR), is the world’s first commercial demonstration scale algae-to-energy facility, integrating the entire value chain of algae-based fuel, from cultivation to production to extraction of ready-to-refine Green Crude. Some proceeds from previous closes of the Series C financing already have been invested in Sapphire Energy’s continuing operations.

“The ongoing support from the private investment community speaks to how strongly they believe in the development of Green Crude as an alternative fuel resource, especially Sapphire Energy’s ability to commercialize it,” said Cynthia J. Warner, president and chairman of Sapphire Energy. “It is increasingly important to find domestically produced crude oil alternatives to improve the country’s energy security, meet global energy demands, and provide jobs. Continued private investment is a critical step in achieving these goals.”

“It’s amazing to see that what started from an idea scribbled on the back of a napkin is now a leading force in support of the goal to improve energy security for the country,” said Jason Pyle, CEO of Sapphire Energy. “Today, Sapphire Energy has a widely admired technology platform, outstanding leadership team, and significant ongoing support from the investment community, making it well positioned to achieve the goal of bringing domestically produced Green Crude oil to commercial scale.”

This announcement follows several recent partnerships and deals supporting Sapphire Energy’s continued expansion in Green Crude production. Last month, Sapphire announced it will integrate Earthrise Nutritionals’ spirulina strain into its growing inventory of cyanobacteria and algae strains to expand resources for algae-to-energy production. In May 2011, Sapphire announced a multi-year agreement with The Linde Group to co-develop a low-cost system to deliver CO2 to commercial-scale, open-pond, algae-to-fuel cultivation systems, now underway at the Green Crude Farm. In March 2011, Sapphire and Monsanto entered into a multi-year collaboration on algae-based research projects. Sapphire also was awarded a $50 million grant from the Department of Energy and a $54.4 million dollar loan guarantee from the Department of Agriculture, providing security for a privately funded loan.

Go to HOME Page

Copyright ©2010-2012 AlgaeIndustryMagazine.com. All rights reserved. Permission granted to reprint this article in its entirety. Must include copyright statement and live hyperlinks. Contact editorial@algaeindustrymagazine.com. A.I.M. accepts unsolicited manuscripts for consideration, and takes no responsibility for the validity of claims made in submitted editorial.

From The A.I.M. Archives

— Refresh Page for More Choices
Kevin Quon writes in Seeking Alpha about the financial plights and pivots of Solazyme, the algae industry’s most high profile recent IPO. In a year that started with a sh...
A U.S. Department of Energy (DOE) Biomass Energy Technologies Office (BETO) project, awarded to Cal Poly (California Polytechnic State University) in collaboration with M...
Don Willmott writes in Huffington Post about Nevada-based Algae Systems, which has built a test plant on Alabama's Mobile Bay to not only turn algae into diesel fuel but ...
Simris Alg, a pioneering agribusiness producing omega-3 from farmed algae, has been declared one of Sweden’s 33 hottest companies in new technology. The renowned list is ...
Japan’s IHI Corporation has announced that they have succeeded in stably cultivating a modified high-output algal strain in a 1,500 square meter open pond in Kagoshima, K...
Researchers at Michigan State University have built a molecular super protein tool that streamlines the molecular machinery of cyanobacteria making, they say, biofuels an...
Algae.Tec has announced that it has completed the commissioning and initial startup of an algae production plant to produce algae-based nutraceutical products. The plant ...
The new algae raceway testing facility, opening February 4 at Sandia National Laboratories in Livermore, California, paves a direct path between laboratory research and s...
An enzyme responsible for making hydrocarbons has been discovered by Texas A&M AgriLife Research scientists studying the common green microalga Botryococcus braunii. ...
The Consortium for Algal Biofuel Commercialization (CAB-Comm), led by the University of California, San Diego, has just released its final report, detailing the many acco...
The GNT Group, a market leader in using algae as natural ingredients for color, has begun construction of an additional spirulina plant at its headquarters in Mierlo, the...
If we built a Green Friendship Bridge composed of 8,600 algae microfarms given to Mexican and Central American farmers in lieu of 1%, (13 miles) of additional border wall...