California-based Aurora Algae raises US$22M, bringing its total fund raise to US$72M; company currently running trials at its pilot plant in Australia, shifts focus from biofuels to nutraceuticals

Rachel Carter

MIAMI , August 24, 2011 (Biofuels Digest) – In California, Aurora Algae has raised another $22 million, bringing its total fund raise to $72 million so far. The company has moved away from being a biofuels pure play to focusing on nutraceuticals. The newest funding round will go towards the building of its first commercial scale plant in Australia. The company is currently running trials at its pilot plant there. Greg Bafalis, Aurora CEO, stated, “Biofuels will eventually come, but they shouldn’t be your focus now.”

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.