On May 30, 2008 the Los Angeles Times reported that Sapphire Energy of San Diego expects to introduce its first fuels based on green crude. [1] [2]
It has produced "green" gasoline from a synthetic crude oil made from algae. The algae yield a crude oil replacement that is literally green, and according to the company, the "green crude" meets fuel quality standards and is completely compatible with the existing petroleum infrastructure, from refinement through distribution to retail suppliers. Gasoline produced from the green crude achieved a 91 octane rating while meeting fuel quality standards. [3]
Sapphire Energy announced a second round investment, including the former Microsoft chairman Bill Gates, that boosts the company’s total funding north of $100 million [4]. In 2008, Sapphire Energy was ranked second on the Biofuels Digest list of the hottest 50 companies in bioenergy.[5]