Solazyme Nets Big Bucks From Investors | June 15, 2009 Issue - Vol. 87 Issue 24 | Chemical & Engineering News
Volume 87 Issue 24 | p. 15 | Concentrates
Issue Date: June 15, 2009

Solazyme Nets Big Bucks From Investors

Department: Business
Keywords: algae, biofuels, venture capital

Algae biofuels start-up Solazyme has raised $57 million from current and new venture capital investors in its third round of funding. The company grows genetically modified algae in an industrial fermentation process. The algae, which consume cellulosic material and waste glycerin, produce oil for renewable fuels, chemicals, and health and wellness products. New investors include Braemar Energy Ventures, Lightspeed Venture Partners, and VantagePoint Venture Partners. Solazyme plans to use the money to commercialize its process.

 
Chemical & Engineering News
ISSN 0009-2347
Copyright © American Chemical Society

Leave A Comment

*Required to comment