News
$2 Million “Shot in the Arm” for Washington State Algae Alliance
December 7, 2009 (Seattle, WA) – The Washington State Algae Alliance, comprised of bioscience firm Targeted Growth, Inc. (TGI), Inventure Chemical (Inventure) and Washington State University (WSU), will benefit from $2 million in funding through WSU as part of the 2010 Senate Energy and Water Development appropriations bill. Click here for the full story.
About Inventure Chemical
Inventure Chemical (www.inventurechem.com)
was formed to develop and commercialize feedstock conversion technologies
for biofuel producers. The company is applying patent pending
processes to a variety of second generation feedstocks, including
algae and various cellulosic materials, to create biodiesel and
ethanol. By using these low-cost/high-yield feedstocks, biofuel
producers will be positioned to compete with petroleum fuel producers
on the free market, independent of any subsidies or mandates. The
company’s expertise includes both process conversion and plant
design/construction. Inventure currently operates a biodiesel and
ethanol R&D production site in Seattle, Washington where it
is currently producing biodiesel and ethanol from algae sourced
from various suppliers, including Seambiotic. Using algae
feedstock, the company has produced biodiesel that meets stringent
American Society for Testing and Materials (ASTM) standards. Inventure
is in the final stages of closing its second round of private financing.