Algae Biofuel Companies

[biofuel]

Sapphire plans $100 million investment in green crude from algae

http://albuquerque.bizjournals.com/albuquerque/stories/2009/06/08/story1.html

Sapphire Energy says it’s pioneering an entirely new industry right here in New Mexico.

The San Diego-based startup plans to invest $100 million in a 300-acre biofuel operation that will convert algae into gasoline starting in 2011, the first such algae-based, commercial-scale biofuel production facility in the U.S.

Once the site’s commercial viability is demonstrated, plans call for it to expand to 1,200 acres and produce more than 1 million gallons per day of green crude, said Sapphire CEO Jason Pyle. That would generate a total investment of $1 billion over the next eight years.

“Green crude will replace black crude right here in New Mexico,” Pyle said in a keynote address at the first annual conference of the Southwestern Biofuels Association in Albuquerque May 27-28. “We’re looking at the next industrial revolution.”