Algae biofuel gets Inadequate Funding 2
Historically Algae biofuel research has been under funded Algae biofuels does not receive adequate federal funds says Sapphire Energy VP..A couple of companies like PetroAlgae and Solazyme have taken the IPO route but this too seems premature and has not had the expected response. Remember reading Shankar's blog on thishttp://www.oilgae.com/club/users/Shankar/blogs/tags/IPOs
What could be the reason for this? One reason could be that algae research is difficult to classify, has yet to find its niche department.
Is it a plant - Does it come under the Department of agriculture or Is it a fuel, regulated by Department of EnergyorAs algae fuel is being used by the defense does it come under the jurisdiction of Department of Defense. The government needs to do much more.
Wed August 25 2010 08:50:10 AM by Aathmika
Algae biofuel | Sapphire
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Aathmika
If that picture with the wind turbines is your signature it is too big tobe a signature:-)
What you are saying is right. The Government has done much more for biofuels as such. But not enough for algaefuel.
I am surprised that Tim Zenk, VP Corp affairs, Sapphire Energy, has spoken like this.
Firstly the amount of money that Sapphire got as a grant from the Government is the largest an algae to oil company ever got.
Secondly, a company like Sapphire which is a leader in this field should expect grants.
It should by all means be looking for venture funding.
Bay area funding has revived. Well almost.
In most sectors.
Funding in the life sciences sector, which combines biotechnology and medical devices and equipment, also surged, jumping 52 percent in dollars and 36 percent in deals from the previous quarter to $2.1 billion going into 234 deals.