NAVY LIKES ALGAE

U.S. Navy buys 20,000 gallons of algae fuel
Candace Lombardi, September 15, 2010 (CNET News)

"Algae biofuel producer Solazyme…delivered 20,000 gallons of algae-based shipboard fuel to the U.S. Navy.

"Solazyme's Soladiesel Renewable Naval Distillate fuel will go toward the Navy's ambitious goal of getting 50 percent of its energy from renewable resources by 2020.
But algae fuel is not just useful for the Navy's ships."

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"This past summer Solazyme also delivered 1,500 gallons of algae-based jet fuel to the U.S. Navy for testing. If testing goes well, Solazyme's algae-based advance biofuel could be powering some of our nation's military aircraft…[and] signed a contract with the Department of Defense to deliver an additional 150,000 gallons of algae-derived advanced biofuel by 2011.

"In addition to garnering more military contracts, the company also raised $52 million in series D funding in August, and counts Morgan Stanley and the Chevron's venture arm among its investors…"

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"In 2009 the not-for-profit Center for Naval Analyses issued a report signed by 12 former U.S. generals and admirals that concluded the U.S. military's dependence on not only foreign oil, but also natural gas and an unreliable electrical grid, is jeopardizing U.S. national security.

"The report asserted that much of the fuel purchased by the U.S. military was essentially a transfer of wealth to countries associated with terrorism, and, therefore, the U.S. was indirectly financing both sides of the terrorist conflict. It recommended increased use of alternative fuels and electric vehicles, which the Department of Defense had already been actively pursuing, as part of a proposed solution."