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Seattle-based Bio Architecture Lab, a University of Washington spinoff that’s developing microbes to turn seaweed into renewable fuel, has built a big part of its business on relationships in Chile. The company has an office in Santiago, and received part of its initial $8 million venture round from Santiago-based Austral Capital. A Chilean economic development group has poured in another $7 million, local university and oil industry partners are involved, and some permits have been issued to run a pilot project in Chile’s coastal waters.
“Fortunately, BAL employees in Chile are safe and accounted for, which is the most important thing for us,” says Niki Parekh, Bio Architecture Lab’s CEO.
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