Algal Biofuel Icon Sapphire vitality strikes to Diversify Product Line
Bruce V. Bigelow
After James Levine stepped in ultimate summer time as CEO at Sapphire vitality, he advised Xconomy he can be in search of the way to broaden and diversify Sapphire’s core expertise in algae-primarily based biofuels by means of growing new companies in associated fields. Now that strategy is beginning to take type.
The San Diego firm mentioned Jim Astwood has joined Sapphire as a senior vice chairman of product administration. As a meals scientist and specialist in agricultural biotechnology, Astwood was prior to now at Hayward, CA-based Aurora Algae, where he was once responsible for developing and advertising and marketing algae-based elements like omega-three and omega-7 fatty acids, and protein for the dietary supplement, food and beverage, and pharmaceutical industries.
At Sapphire, Astwood will oversee the growth of business building, focusing at the beginning on making use of the company’s algae biomass processing expertise to increase new merchandise in such markets as “nutraceuticals” (a food stated to have health-giving components and medicinal advantages), and animal and aquaculture feed.
Astwood’s arrival more or less coincides with the departure of Tim Zenk, who was Sapphire’s senior vp of company construction, and who had in depth experience in executive and politics. last month Zenk joined Algenol, an industrial biotech in citadel Myer, FL, that is still keen on producing ethanol, fuel, jet gas and diesel from algae.
after all, producing “the arena’s first renewable gasoline” was once Sapphire’s major center of attention in 2008 when the startup induced a minor media frenzy with the aid of disclosing it had raised more than $ one hundred million in a series B funding round that included Arch undertaking companions, the Wellcome trust, Venrock, and Cascade funding, invoice Gates’ investment arm in Kirkland, WA.
just a few months later, Continental airlines made the first business take a look at flight using algae-based totally jet gas (produced by using Sapphire and others). At a time when fuel used to be over $ 4 a gallon on the fuel pump, Sapphire was a really perfect green hope—the challenge-backed icon of a promising foray in industrial biotechnology. Founding CEO Jason Pyle stated the company’s mission used to be nothing lower than changing the world by growing a renewable source of energy that will merit the environment and hasten the usa’s power independence.
but just a few months ago, Levine advised Algae industry magazine, “i feel the arena has changed due to the fact that Jason’s days of running Sapphire. a part of the job of the administration of an organization is thinking about the current environment in which we operate and pronouncing, “we’ve our set of instruments. Are we hanging them to one of the best use?”
nor is Sapphire by myself in its diversification strategy, as other biofuel corporations like Solazyme, Heliae, and Cellana also have moved to … subsequent page »
(135)
