Viridos, a La Jolla, CA-based algae biofuel company, raised $25M in Series A funding.
The round was led by Breakthrough Energy Ventures (BEV), Chevron U.S.A. Inc. and United Airlines Ventures.
The company intends to use the funds to further increase algae oil productivity to reach commercially deployable levels.
Led by CEO Oliver Fetzer, Viridos is an algae biofuel company dedicated to creating sustainable, low- carbon, algae-based jet and diesel fuel. The company built a scalable platform for low-carbon intensity biofuels, which can reduce greenhouse gas emissions from aviation, commercial trucking, and maritime shipping. Its bioengineering technology consists of genetically engineering algae, combined with optimized production processes and systems to enable large scale production.
FinSMEs
13/03/2023