19-20 Oct, 2010 - Singapore, SINGAPORE
Goodwood Park Hotel Singapore
Goodwood Park Hotel Singapore
Aurora Biofuels said it has secured an additional $15 million in a recent funding round led by Oak Investment Partners, with the continued support of Gabriel Venture Partners and Noventi Ventures. This third-round financing brings the startup’s total fundraising to $40 million. The new funding will be used to support the continued path to commercialization for its advanced algae biofuel technology.
In August 2009, Aurora Biofuels announced that they had successfully optimized its base algae strains to more than double CO2 consumption and fuel production, and has proven these results in an outdoor open system.
The company has also been working with Florida Tech on a research project which focuses on developing biofuel with co-products to enhance animal feed as a means to improve the economics of the fuel-production process.
The continued funding from investors shows positive signs that Aurora’s technologies are viable and that they are heading on the right track towards commercialization.
About Aurora Biofuels
Aurora Biofuels manufactures fuel from genetically optimized algae in specially engineered open ponds that provide a favorable environment for rapid algae production. These conditions include a carbon dioxide-rich environment with optimal fluid dynamic characteristics. Techniques have been developed to minimize energy demands throughout the growth and production phases of the process. Once extracted, the algae oil is ready for further processing into the end products, Omega 3 fatty acids, valuable proteins, and biodiesel. And, the remaining algae mass becomes protein-rich animal feed.
Those keen to find out more on how Aurora Biofuels deals with the technological challenges of Large Scale Algal Biofuel should attend the 3rd Algae World Asia in Singapore from 19-20 October, 2010.
Mr Matt Caspari, Managing Director, Aurora Algae Pty Ltd, will also be sharing on the commercial viability of Large Scale Algal Biofuel Production at the conference.
Click here to find out more about the event schedule or contact leelin@cmtsp.com.sg for other details on the 3rd Algae World Asia.
