Cleantech VC and the state of the IPO market

Of greatest concern is that as financing for cleantech gets tight, the brightest startups will struggle to find early stage capital and those companies nearing the path to commercialization will find it hard to find scaling capital.

Algae fuel being sold for the first time to regular drivers

For seemingly the first time in history, an algae fuel blend will be sold to regular consumers in select cities in Northern California through a month-long pilot program for gas station owner Propel Fuels and algae fuel maker Solazyme.

First portion of huge algae farm in New Mexico is done

Come take a look at the first phase of Sapphire Energy’s algae farm in New Mexico. When eventually built out it will produce 100 barrels of algae biofuel a day, and currently the five-year-old startup is making algae fuel on ponds across about 100 acres.

Biochemical company Elevance raises $104M

Despite that venture funding for cleantech is cooling off, some companies are still able to get money for growth. For example, biochemical company Elevance Renewable Sciences has raised a $104 million Series E round from oil giant Total’s investing arm, and Malaysian conglomerate Genting Berhad.

Solazyme now moving into biofuels in a major way

After nine-years, an IPO and $125 million in venture funding, Solazyme is finally ready to break into biofuels in a more commercial way: this week Solazyme announced the ground-breaking of a biofuel plant in Brazil through a joint venture with Bunge.

Braemar closes $300M fund for energy tech

At least one venture firm is still standing strong behind energy technology. Ten-year-old Braemar Energy Ventures announced on Wednesday that it has closed its latest third fund, of $300 million, to invest in energy technologies.