Algae-to-crude company Sapphire Energy pays off government loan guarantee
Green Car Congress
JULY 30, 2013
2009, the company was awarded a $54.5-million loan guarantee through the Biorefinery Assistance Program, administered by the USDA Rural Development-Cooperative Service, to build a fully integrated, algae-to-crude oil commercial demonstration facility in Columbus, New Mexico. Today, the Farm is operational and producing renewable crude oil on a continuous basis; the company expects to be producing 100 barrels of crude oil per day in 2015, and at commercial-scale production in 2018.