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Algae farming start-up Bionavitas is planning on raising tens of millions of dollars to commercialize technique for bringing more light into algae bioreactors and ponds.
Green-tech companies are in for the stimulus of a lifetime. But proponents also know the risks of a bureaucratic boondoggle.
Bionavitas is making a long-term bet on cheap biodiesel from algae. But more promising today is "bioremediation," or using algae to treat polluted waste water.
PetroAlgae, Bionavitas, and others bet that algae will replace soy as a feedstock for biodiesel. The question is which, out of many companies, will develop a cost-effective technology first.
Also: IBM teraflops for the climate; Duke Energy's $100 million solar plan; how much sun to replace gas?; and the carbon footprint of eating farm animals.