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Algae Biofuels Startup Lands $10M
31 May 2007
Business Journal. Startup algae biofuels company LiveFuels received $10 million in a first round of funding led by David Gelbaum of the Quercus Trust, which donates to conservation advocacy and environmental organizations.
The company says its goal is to cost-effectively produce large amounts of oil derived from algae.
In 2006, the company established a research alliance with Sandia National Laboratory to focus on producing biocrude oil by the year 2010.
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