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Khosla Ventures and Hawaiian Electric Co. have agreed to collaborate on evaluation and early deployment of green-energy technologies. The companies will work with entrepreneurs and start-up companies developing clean technology with the goal of accelerating the commercialization of promising new products and services.

Hawaiian Electric is partnering in an algae production project with Maui landowner Alexander & Baldwin Inc. and start-up HR BioPetroleum Inc. The plan is to create a commercial-scale algae facility adjacent to the Ma’alaea Power Plant. Hawaiian Electric is also a partner in the proposed BlueEarth Biofuels LLC 40 MMgy biodiesel processing plant on Maui, which is expected to be operational in early 2010. The goal is to use locally grown oil feedstocks such as algae, jatropha or palm.

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