By Andrew Nusca
Posting in Energy
Algae-derived biofuels company Solazyme says it has tapped Virgin Group billionaire Sir Richard Branson as an investor.
San Francisco, Calif.-based biotechnology outfit Solazyme on Wednesday announced that it now counts Sir Richard Branson among its investors.
Branson, adventure-seeking chairman of the Virgin Group, was a part of the company's Series D financing round. Solazyme is known for producing renewable "green" biofuels from microalgae.
"Sustainable renewable oils and biofuels will play an important role in our future," Branson said in a statement. "We have made a number of investments in these emerging fields over the last four years and I'm excited about Solazyme's potential to make oils for fuels, chemicals and foods at scale."
Though Virgin Group has an existing Virgin Green Fund for investment in renewable energy and resource efficiency, Branson's investment came from his own coffers.
Solazyme counts Braemar Energy Ventures, Harris & Harris Group, Lightspeed VenturePartners, The Roda Group and VantagePoint Venture Partners among its investors.
Last year, we visited the company and spoke with CEO Harrison Dillon about its technology. Here's a look:
Related on SmartPlanet:
- Solazyme founder Harrison Dillon: Why the U.S. Navy wants our green jet fuel
- Solazyme turns algae based oil into green
- Video: Growing the next 'green' fuel
Sep 8, 2010