Cascades Investments LLC, Gates’ personal investment company, is investing in Sapphire Energy, a start up working towards a commercial-scale facility to produce oil from algae.
Investment in Sapphire shows a change in Gates' clean-fuel strategy. Earlier this year Cascade sold its share of Pacific Ethanol Inc, a company that produces Ethanol.
Ethanol production lately has been blamed for the world food crisis. On the other hand, Algae has caught attention of investors as a potential oil producer for vehicle and jet applications.
Source: Wall Street Journal Blogs
Wednesday, September 17, 2008
Bill Gates Goes For Algae
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