Algae Fuel Contender Aurora Lands $15M
Aurora Biofuels, a startup that cultivates algae to produce biodiesel, has just landed $15 million in a third round of venture funding. But it has yet to overcome the big hurdle standing between algae and the mass market: scale.
Aurora will use the new money to commercialize its fuels, but doesn’t plan to come to market until 2011 or 2012, as Earth2Tech points out. With $40 million in capital raised, it seems to have enough runway to get it there, but then what? It says it plans to build fuel-producing plants near its algae farms so that they can feed on and recycle the carbon dioxide produced. But $40 million doesn’t seem like enough to make this happen.
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| | posted by Narsi
