Bill Gates goes green with algae biofuel investment

The world’s richest software geek, Microsoft chairman Bill Gates, is one of the investors behind the latest round of funding for algae biofuel company Sapphire Energy.

The Series B funding brings the total funding in Sapphire Energy to “substantially more than $100m” and investors include Gates’ investment company Cascade Investment, Arch Venture Partners, Wellcome Trust and Venrock.
Sapphire says the money takes it a step closer to bringing the algae biofuel production to commercial scale and plans to use the funds to scale up its production facilities accordingly. The company says it anticipates relying on existing investors to achieve its initial commercial production capability of 10,000 barrels per day.

Greenbang