Solazyme Delivers Shipment To U.S. Navy
South San Francisco-based Solazyme, a developer of algae-based biofuels technology, reported it has delivered 1,500 gallons of its 100%, algae-based jet fuel to the U.S. Navy. The delivery comes under a contract announced in September of last year. Solazyme is venture backed by Braemar Energy Ventures, Harris & Harris Group, Lightspeed VenturePartners, The Roda Group, and VantagePoint Venture Partners. The U.S. military is the largest consumer of fuel products in the world, and is in the midst of a major effort to boost use of renewable fuels. The U.S. Navy is aiming at supplying 50 percent of its fuel needs with clean, renewable fuel by 2020.
posted on Monday, July 19, 2010
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