Sapphire Energy’s Algae Crude Production To Scale Up Soon?
Sapphire Energy, a San Diego based,one of the top algae biofuel companies, has paid off the entire loan awarded to the company by the U.S. Department of Agriculture. In Dec. 2009, the company was awarded a $54.5 million loan guarantee through the Biorefinery Assistance Program, administered by the USDA Rural Development-Cooperative Service, to build a fully integrated, algae-to-crude oil commercial demonstration facility in Columbus, N.M.
Sapphire Energy developed and implemented this facility on time and is now producing renewable crude oil on a continuous basis. Sapphire intends to focus on using its technology to bring crude oil production to commercial demonstration scale as planned. The company expects to be producing 100 barrels of crude oil per day in 2015, and at commercial-scale production in 2018.
This interesting news on the loan pay leaves a strong hope on algae fuel enthusiasts, saying that the company has a relatively significant algae biofuel production process which can make its algae biofuel commercial dream into reality.
Read More: http://www.oilvoice.com/n/Sapphire_Energy_pays_off_Government_loan_guarantee/b09893b50135.aspx#.UfjrcnkvB8M.twitter
