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Sapphire Energy Closes $50 Million Venture Funding

Monday, June 02, 2008 5:46:00 AM PDT | VentureDeal Staff

Del Mar, California -- Alternative energy company Sapphire Energy announced that it has received $50 million in new venture capital funding.

Sapphire Energy is developing technologies to produce renewable liquid fuels from from a platform that uses sunlight, CO2, photosynthetic micro organisms, land and algae.

Investors in the round were Arch Venture Partners, Venrock and The Wellcome Trust.  Proceeds purposes were not disclosed by the company.

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