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Solazyme: Algae-based biofuel fuels cars, warships, airplanes
September 17, 2010
While Beaker focuses on biotechnology related to healthcare products, we certainly have some related industries not far afield, including bioagriculture, biofuels and biodefense. And with the unique nature of this story, we could not resist.
Algae biofuel producer Solazyme has delivered its first shipment of 20,000 gallons of algae-based shipboard fuel to the U.S. Navy. Solazyme’s Naval Distillate fuel will go toward the Navy’s ambitious goal of getting half of its energy from renewable resources by 2020, and is part of a defense contract requiring the company to deliver 150,000 gallons of algae-based advanced biofuel to the US military by 2011.
Beyond government contracts, Solazyme also raised $52M is series D funding last month and counts Morgan Stanley & Chevron as its investors. Cool technology with real world applications.
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