Biofuel Company Latest To Pay Off Government Loan Early

From GreenCarReports Government lending to green technology companies has been a political hot potato in recent years. Huge loans were offered to dozens of companies. Automakers, solar companies, biofuel concerns and more received money, but high-profile failures like Solyndra lent credence to those critical of the loan program's risks. Tesla Motors [NDSQ:TSLA] was the first to break this chain, paying back its Department of Energy loan years nine ahead of schedule. Now, biofuel company Sapphire Energy has done likewise, paying back its own $54.5 million loan with years to spare. Like Tesla's DoE loan, Sapphire's was granted back in 2009, through the U.S. Department of Agriculture. The business was promoted using an algae fuel-powered Toyota Prius nicknamed the 'Algaeus', with which they toured the country, spreading the biofuel message. The company's aim was to build a fully integrated algae-to-crude oil commercial demonstration facility in Columbus, NM. Not onl…
Read more
  • 0

Where Do Biofuels Fit Into Obama’s Climate Plan?

by Marianne Lavelle National Geographic Society When President Obama unveiled his long-awaited climate change strategy this week, he never mentioned biofuels. (See “Obama Unveils Climate Strategy.”) But with nearly a third of U.S. greenhouse gas emissions due to burning petroleum for transportation, a key and controversial question is what role plant-based alternatives can play in cutting the nation’s carbon emissions. As part of National Geographic’s Great Energy Challenge initiative, we brought together two dozen experts from industry, academia, and environmental organizations to discuss whether biofuel can be a sustainable part of a cleaner energy future. (See in-depth coverage at Biofuels at a Crossroads, and vote and comment here: The Big Energy Question: Are Biofuels Worth the Investment?“) The forum Wednesday at National Geographic’s Washington, D.C. headquarters was timely, not just because the group convened the day after the President’s long-awaited climate …
Read more
  • 0