Bill Gates Funds Sapphire Energy
Marissa Brassfield — September 17, 2008 — Autos
References: sapphireenergy & news.cnet
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.
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.
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.
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