Solazyme receives expansion funding

By | October 14, 2008
San Francisco-based Solazyme Inc. recently raised $45.4 million through investors that include Braemar Energy Partners, Lightspeed Venture Partners and Harris & Harris Group.

The Series C funding will be used for the company's expansion and growth in producing biodiesel from algae oil on a commercial scale. Solazyme also has an agreement with Chevron USA Inc. to develop and test biodiesel feedstocks. The company's proprietary process grows algae in closed fermentors rather than photobioreactors or ponds used by most other algae producers.
 
 
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