Update on energy from algae:
VentureWire reports that Solazyme, which makes biofuels and other products from algae,
raised about $45 million in its latest round of funding. Meanwhile Enterprise Rent-A-Car Co. created a division and hired experts to look into getting its fleet juiced up on the organisms.
As we noted previously in a
biofuel investment roundup, investments in clean technology set a record of $5.8 billion in the second quarter, up from $2.6 billion in the year-ago period, according to research firm New Energy Finance. VC firms threw in about $1 billion of that. Braemer Energy Ventures and Lightspeed Venture Partners are two of the firms that took part in funding Solazyme, which in January
formed a deal with the venture capital unit of No. 2 oil producer Chevron Corp. Chevron has some money to invest; its first half
net income was $11.1 billion.
Coincidentally, Richard Sayre, a leading biofuels researcher, just became director of the Enterprise Rent-A-Car Institute for Renewable Fuels in St. Louis.
The unit started with a $25 million gift from the Taylors of St. Louis, who own Enterprise, National Car Rental and Alamo Rent A Car and operate the world's largest automotive fleet, with more than 1.1 million vehicles.
Sayre and his team will focus on using algae to produce fuel on a large scale to power cars, trucks and
aircraft. -
Baz HiralalAlgae biofuel firm Solazyme scores $45MAirbus-Honeywell JV: Jet fuel from algae?
Join Corporate Dealmaker's LinkedIn forum
Cuong Viet Do
And the winners are...
