Sapphire Energy Takes $50M For Renewable Fuels

Sonoma-based Sapphire Energy has raised $50M for its process for using algae, CO2, and sunlight to produce what it says is a renewable, 91 octane gasoline. Sapphire Energy said the funding was led by ARCH Venture Partners, and also included the Wellcome Trust and Venrock. Sapphire Energy said it is collaborating with the DOE’s Joint Genome Project; University of California, San Diego; The Scripps Research Institute; and the University of Tulsa on its technology. More information »