Sapphire Obtains Private Funding to Go With Stimulus Money and a DOE "GUARANTEE"

New Mexico Business Journal - Sapphire Energy Inc. has closed on a $144 million series C round of funding for its algae-to-oil commercial demonstration project in Columbus, N.M. Arrowpoint Partners, Monsanto Co. and other undisclosed investors contributed to the round. The new funding brings total public and private investment in Sapphire to $300 million, said Sapphire President and Chairman Cynthia Warner.
The company previously received $104.5 million in federal funding for the Columbus project. It includes $50 million in stimulus money and a $54.5 million loan guarantee from the U.S. Department of Agriculture U.S. Warner said the latest private investment shows investors are confident in Sapphire’s technology, which turns algae oil into renewable gasoline that is genetically identical to sweet crude pumped from the ground. Read full story here: News New Mexico

Sapphire Obtains Private Funding to Go With Stimulus Money and a DOE "GUARANTEE"