Luke Timmerman | 06.06.13 | xconomy.com
Algae biofuel was hot, then cold. Now it looks to be warming up again—kinda, sorta, maybe.
San Diego-based Cellana is the latest example of an aspiring algae biofuel company that has been given a chance to turn things around, after the hype of the past few years died down. The company (previously known as HR BioPetroleum) is announcing today that it has struck a multi-year, non-exclusive agreement with Finland-basedNeste Oil, in which Neste has agreed to purchase large volumes of Cellana’s algae-based crude oil if Cellana can scale up.