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Business

… As Sapphire Raises Funds For Algal Crude

by Michael McCoy
April 9, 2012 | A version of this story appeared in Volume 90, Issue 15
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Algae-based fuel developer Sapphire Energy has raised $144 million in a third round of investment funding. Backers include the investment firm Arrowpoint Partners and Monsanto, which is also working with Sapphire to discover traits in algae with application to other crops. Sapphire says the funds will support a commercial demonstration facility, called the Green Crude Farm, it is building in New Mexico.

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