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.
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.
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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.