You are at: Oilgae Blog.

PetroAlgae Inc., a leading developer of systems to derive biodiesel fuels from algae, announced on Dec 26 that it has closed on a $10 million capital raise through the sale of approximately 3.2 million of newly-issued shares of common stock to two existing investors.

“The proceeds from this offering are expected to help finance the launch of PetroAlgae’s most significant milestone to-date, the commercialization of its first biodiesel product derived from algae,” said Dr. John Scott, Chairman of the Board of PetroAlgae Inc.

By the way, have you subscribed to the Oilgae Blog?; How about joining the Oilgae mailing list?; and our forum to discuss on with others?

Share this article

Related posts:

• PetroAlgae retains investor relations firm
• Florida Firm PetroAlgae Making Pioneering Efforts for Oil from Algae
• Aurora Biofuels Raises $20M for Algae to Biofuels
• PetroAlgae Looking to Test Commercial Algae Biofuel in 2009
• Biofuels start-up nabs $5 million in funding
• Amelot Applies For $25 Million Grant Thru U.S. Energy Policy Act of 2005
• Algae Stock as Alt Fuel Rises
• FTA to Fund 12 Million in Fuel Cell Bus Projects
• Algae-Based Jet Fuels for Military Use Research Won Multi-Million-dollar Contracts from DRAPA
• Arizona Technology Enterprises’ Algae-to-fuel Work Gets $3 Million