Bill Gates' investment firm is funding Sapphire Energy, a company that intends to make auto fuel from algae.
Sapphire Energy said Wednesday that a series B round will bring the total amount it has raised to more than $100 million. Investors include Gates' investment firm Cascade Investment, as well as Arch Venture Partners, Wellcome Trust, and Venrock.
The lowly algae is the renewable fuel industry's great green hope. Because algae is rich in oil and can grow in a wide range of conditions, many companies are betting that it can create fuels or other chemicals cheaper than existing feedstocks. … Read more