Algae startup Sapphire Energy eyes New Mexico facility after $50 million capital raise

In New Mexico, closely watched algae startup Sapphire Energy, which launched with a $50 million early stage investment round in Silicon Valley, is negotiating with officials in Las Cruces for an open-pond based algae farm. Las Cruces City Council is looking at a proposed initial purchase of 10 acres for a production facility. In the proposed deal, Las Cruces would donate 90 acres in an industrial park area to Sapphire Energy, valued at $1.35 million after Sapphire purchases the initial ten acres and invests $6 million in its facility.  The company states in its filing that it will eventually acquire 2000 acres for its commercial test plant.

Free Subscription to the Daily Biofuels Digest e-newsletter

Related Stories

Sapphire Energy says algae commercialization accelerating; expects to double commercial outut in 2011 to 1 million gallons of jet fuel and green diesel

In California, Sapphire Energy said the pace of algae commercialization is increasing and that it will reach commercial scale by 2011, and producing 1 Mgy of diesel and jet fuel from algae that year, ...

Bill Gates, Rockefellers invest in Sapphire Energy; equity infusions in algae producer top $100 million

In California, Bill Gates and the Rockefeller family trust led a round of new investors in Sapphire Energy, which has now raised more than $100 million for its algae based "green crude" technology, an...

Sapphire Energy debuts “green crude”; raises $50 million in venture capital for algae-to-gasoline process

In California, Sapphire Energy debuted it's "green crude", a gasoline equivalent refined from algae. The company did not disclose its production process but said that it is producing 91 octane gasolin...

Verenium readies for $150 million capital raise

Verenium filed a $150 million shelf offer with the SEC in support of a new capital raise. The company says that it plans to sell 3 million shares at $50 to raise $150 million in new equity, although i...

Mexico advances on jatropha development; ag ministry identifies 6.4 million potential acres

In Mexico, Reuters published a recap of jatropha development, including the development of a $936,000 research biodiesel facility in southern Mexico. The new facility, which will be developed in coope...

Sugar giants Bajaj Hindustan and Shree Renuka Sugars go on capital rasing spree

In India, sugar mill operator Bajaj Hindusthan is looking to raise $147 million with a 35 million share flotation. The shares are discounted 12 percent to the most recent closing price. The move fo...