Visit  cricatalyst.com!Nexus — Leaders in Greenhouse Systems Integration Check out more of The Buzz

Sapphire Energy pays back USDA loan guarantee

July 30, 2013
AlgaeIndustryMagazine.com

Sapphire-Energy-logo-July-2010Sapphire Energy, Inc. has paid off the entire loan guarantee awarded to the company by the U.S. Department of Agriculture. In Dec. 2009, the company was awarded a $54.5 million loan guarantee through the Biorefinery Assistance Program, administered by the USDA Rural Development-Cooperative Service, to build a fully integrated, algae-to-crude oil commercial demonstration facility in Columbus, N. M. In partnership with the USDA and the U.S. Department of Energy, Sapphire Energy developed and implemented its facility, known as the Green Crude Farm, on time and on budget. Today, the Farm is operational and producing renewable crude oil on a continuous basis.

Sapphire Energy is now producing the world’s first renewable crude oil, and is in the process of scaling up the technology. The operational crude oil farm has led to additional investment in the company and commercial partnerships. The company repaid the remaining loan balance in full after receiving additional equity from private investors, making the loan no longer necessary to complete the next, planned phase of development.

“Sapphire Energy is very grateful to the USDA for supporting algae crude oil as an alternative source of energy as well as our vision to make this industry a reality,” said Cynthia ‘CJ’ Warner, CEO and chairman of Sapphire Energy. “With their backing, we did exactly what we set out to do. We grew our company, advanced our algae technologies, and built, on time and on budget, the first, fully operational, commercial demonstration, algae-to-energy facility that delivers a proven process for producing refinery-ready Green Crude oil. We could not have built this first of a kind facility without the support of the USDA. Moving forward, our focus is on commercializing our technology and expanding operations to bring crude oil production to commercial demonstration scale as planned.”

More than 600 jobs have already been created throughout its phase 1 construction, and 30 full-time employees currently operate the facility. The company expects to be producing 100 barrels of crude oil per day in 2015, and at commercial-scale production in 2018.

More Buzz…

HOME Algae Industry Jobs

Copyright ©2010-2013 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
Heliae, SCHOTT North America and Arizona State University (ASU) have announced a partnership to bring Heliae’s algae production technology to ASU’s algae testbed facility...
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...
Biomass abounds on Earth, as forests, fields, sewage and seaweed. But only a small fraction, mostly human or agricultural waste, can be harvested without posing environme...
A team of six University of Calgary researchers has been awarded funding for their project, Cost Effective Biotechnology for Carbon Capture and Re-Use, based on the conce...
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...
Perth, Western Australia-based Algae.Tec Limited has announced that the Reliance Group has converted the first tranche of options following the positive progress achieved...
Following a request from the European Commission, the European Food Safety Authority (EFSA) Panel on Dietetic Products, Nutrition and Allergies (NDA) was recently asked t...
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...
Bookending the upcoming Algae Biomass Summit, Sept. 29-Oct.2 in San Diego, will be industry tours to give attendees a first-hand look at the latest progress in technical ...
The EPA has released the Annual Use of Pesticides in the U.S. Report. We now know that American farmers apply roughly a billion pounds of toxic chemicals intentionally in...
Using a combination of satellite imagery and laboratory experiments, researchers have evidence showing that viruses infecting those algae are driving the life-and-death d...
Oregon State University researchers are combining diatoms, a type of single-celled photosynthetic algae, with nanoparticles to create a sensor capable of detecting minisc...
Researchers at the Paul Scherer Institute (PSI) in Wädenswil, Switzerland, have succeeded in producing energy-rich gas from microalgae, and in doing so have demonstrated ...
James “Jamie” Levine took over the reigns at Sapphire Energy in July of this year as former President and CEO Cynthia “CJ” Warner stepped down, retaining her role as chai...
Arizona is taking advantage of its open land and ample sunshine to assume a leadership position in the algae biofuel field. The state is home to two national algae testbe...
A team of Michigan State University algae researchers have discovered a cellular "snooze button" that has the potential to improve biofuel production and offer ...
MicroBio Engineering, Inc., of San Luis Obispo, California, has introduced a full suite of open pond microalgae growth systems designed for quick deployment of research- ...
Renewable fuels company Muradel has launched Australia’s first integrated demonstration plant to sustainably convert algae into green crude, as a first step towards a com...