Bill Gates, one of the richest men in the world, has thrown his proverbial hat into the alternative energy ring. His investment firm, Cascade Investment, has funded Sapphire Energy, a San Diego-based company that plans to make auto fuel from algae.
This brings Sapphire Energy's total investment capital over the $100 million mark, with other investors that include Arch Venture Partners, Wellcome Trust, and Venrock.
Algae is thought to be a good and inexpensive source of renewable fuel since it is naturally rich from oil and can grow in a variety of conditions.
Sapphire Energy said in 2007 that they successfully made an algae product that yielded 91 octane gasoline; they've named it Green Crude. Sapphire Energy's process can yield the chemical equivalents of gasoline, jet fuel and diesel fuel.
Automotive Algae Fuel
Bill Gates Funds Sapphire Energy
Trend Themes
1. Renewable Energy - The growing interest in algae as a source of renewable fuel creates opportunities for disruptive innovation in the renewable energy sector.
2. Alternative Fuel - The development of algae-based fuels opens up possibilities for disruptive innovation in the alternative fuel industry.
3. Sustainable Technology - Sapphire Energy's breakthrough in producing algae-based fuels presents disruptive innovation opportunities in the sustainable technology space.
Industry Implications
1. Energy - The energy industry can explore new business models and technologies to leverage the potential of algae-based fuels as a renewable energy source.
2. Automotive - The automotive industry can seize the opportunity to create disruptive innovations by incorporating algae-based fuels into their existing product lines or developing new eco-friendly vehicles.
3. Chemical - The chemical industry can explore the production of algae-based fuels and their chemical by-products, opening avenues for disruptive innovation in the chemical sector.