The stock for algae company Solazyme rises 15 percent in its initial public offering, raising $227 million to expand its biofuels and chemicals businesses.
The California company seeks to raise up to $100 million on the stock market to speed up commercialization of its algae oil for fuels, food, and personal care products.
Many companies have tried to make fuel and food products from algae, but Solazyme's unique approach has helped accentuate its potential for commercializing algae biofuels.
Next-generation biofuels using algae or plant wastes are getting closer to commercialization, but large-scale production with sustainably grown plants remains the challenge.
Solazyme signs contract to provide additional 150,000 gallons of algae-derived advanced biofuels to U.S. military by 2011.
A Continental Airlines Boeing 737 yesterday made the first U.S. flight running on an algae-based biofuel blend. That single flight alone may have saved the equivalent of 30,000 miles of one car's carbon dioxide emissions.
Company's renewable diesel earns certification as a fuel and gets tested on a Jeep Liberty with a diesel engine.
Energy Biosciences Institute says that sustained R&D is needed to make algae biofuels cost-competitive with fossil fuels.
While the ethanol industry faces more skepticism, biofuel companies making drop-in replacements for petrofuels are moving out of demonstration stage to larger-scale production.
What's the best way to grow algae? Sides are being taken, as companies try to transform algae into transportation fuel or dietary supplements.