Bill Gates Digs Algal Oil

Gates' Cascade Investment has put money in Sapphire Energy, which has raised over $100 million since its inception.

Bill Gates' Cascades Investments has backed algal biofuel maker Sapphire Energy, bringing the total amount raised by the startup to over $100 million.

The San Diego, Calif., company is one of a slew of startups developing processes for harvesting fuels from algae. In May, the one-year-old company said it had raised over $50 million from Arch Venture Partners, the Wellcome Trust and Venrock.

Sapphire CEO Jason Pyle told the Wall Street Journal Wednesday that the company plans to build a production plant capable of generating 10,000 barrels of algal oil a day.

Biofuel is not a new field of investment for Cascade, which put money in Pacific Ethanol, a public company in Sacramento, Calif.

But the investment firm sold all of its shares in Pacific earlier this year after the company reported losses and suspended construction of a planned ethanol plant (see Biofuel Forecast Buoys a Bit).

Pacific Ethanol said it was on track to complete a new plant last month even as it posted further losses

Comments [3]

  • Larry Pope 09/22/08 9:31 AM

    Bill, you’re on the right track but you need to get with this company to have your bio prayers answered more quickly.  This company will produce possibly 10 times the bio diesel and jet fuel projected by Sapphire Energy.  Check it out.

    This company in El Paso, Texas is just weeks away from proving their their estimates of output are correct.  They are talking about 100,000 gallons of fuel produced per acre per year.  This quantity far exceeds any other estimates I’ve read about in biofuel production.  I believe their process makes so much sense that every effort should be made to promote their methods with every company I can find that is looking into the change from fossil fuels to biofuels.
    Please view all the videos and materials provided below.
    I appreciate your time and consideration.

    Company:Valcent, El Paso, TX - Watch video on page
    http://www.valcent.net/s/Ecotech.asp?ReportID=182039 
    CNN Report on Valcent:UTube Video
    http://www.youtube.com/watch?v=m-GpX3oJFTU&feature=related
    Local Texas TV Report:UTube Video
    http://www.youtube.com/watch?v=VYURCN7o-Mk&feature=related
    Contacts:  (JavaScript must be enabled to view this email address)
    Valcent Products Inc.

    Reply
  • Michel Platini 10/2/08 11:25 AM

    I think they have a good chance at making it but I was wondering what they were going to be able to get their cost per barrel of algae biodiesel would be.

    Reply
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