Seambiotic, located in Ashkelon, Israel, uses eight raceway/paddle-wheel open-ponds for algae cultivation, fed by C02 flue-gas from a nearby Israeli Electric Corporation power plant. The company employs genetic optimization and has teamed up with Inventure Chemical to turn the algae into fuel.
And now it has a new CEO. Daniel Chinn is replacing founder and previous CEO Amnon Bechar who will now assume the position of COO. Mr. Chinn is a GP at Israel Seed Partners and has a background in M&A and law.
The last algae company helmed by a VC in a management switch was GreenFuels led by IT-guru Bob Metcalfe. GreenFuels was the proud winner of the Frost & Sullivan Technology Innovation...

