Algae-to-fuel company Solazyme, Inc. announced that it has raised $52 million in Series D financing.
Founded in 2003 and headquartered in South San Francisco, Solazyme’s
technology leverages microalgae’s ability to produce oil and
biomaterials. These are tailored not only for biofuel production, but
also as replacements for fossil petroleum and plant oils in a diverse
range of products ranging from clean fuels and chemicals to cosmetics
and foods.
Braemar Energy Ventures and new investor Morgan Stanley are leading the round with all major existing investors from previous rounds participating, including Lightspeed Venture Partners, The Roda Group, Harris and Harris Group, VantagePoint Venture Partners and Zygote Ventures.
Existing strategic investors CTTV Investments LLC, the venture capital arm of Chevron Technology Ventures LLC, and San-Ei Gen, a major Japanese manufacturer and distributor of food ingredients, also participated.
In July, Solazyme, Inc. announced that it has delivered 1,500 gallons of 100% algae-based jet fuel for the U.S. Navy’s testing and certification program.
In March, the company signed a research and development agreement with Unilever (NYSE: UN) to develop oil derived from algae for use in soaps and other personal care products.
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