SAP’s Power Purchases Reach 50%, Solazyme Raises $52 Million In Series D

Posted on August 10th, 2010 by
   

BP’s relief well efforts nearing the Macondo well, more money for Algae based bio-fuels group Solazyme, and SAP cutting their carbon footprint.

A quick update on BP’s relief well efforts. According to Ret. Admiral Thad Allen, BP’s crew should reach the Macondo well later this week and begin the final phase in plugging the damaged well forever. The relief well team has begun making the final preparations to cement the exterior of the well 13,000 feet below the floor of the Gulf.

Even though there has been little success in the investment of algae based fuels, Solazyme announced this morning that it has raised $52 million in Series D financing from investment groups including Braemer Energy Ventures, Morgan Stanley, and Chevron Technology Ventures which is the venture capital arm of the Chevron. Solazyme, which  uses microbial fermentation to produce renewable oil that can be used for clean and scalable fuels, has raised over $125 million..

SAP’s recently released quarterly sustainability update shows that the company’s global CO2 emissions slightly decreased to 115 kilotonnes from 120 kilotonnes in the previous quarter. Despite a surge in business travel prompted by the economic recovery, the software giant successfully lowered its overall carbon footprint by reducing its energy consumption and increasing the purchase of renewable electricity to 50% of the company’s overall electricity use.

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