News from Cellana


Martin Sabarsky, CEO of Cellana, Appointed New Board Chair of Algae Biomass Organization

WASHINGTON, DC (August 6, 2015) The Algae Biomass Organization, the trade association for the algae industry, today announced that Martin Sabarsky, CEO of Cellana, has been appointed Chair of the organization’s Board of Directors for the 2015-2016 term, and Jacques Beaudry-Losique, Senior Vice President of Corporate and Business Development at Algenol, has been appointed Vice Chair. Previous Chair, Tim Burns, Co-founder and Board Member of BioProcess Algae LLC, remains on the board. Read more.  

Cellana Biofuels Digests 2015 5-Minute Guide

Click here to read a 5-Minute Guide on Cellana produced by Bifuels Digest.

Cellana Appoints David Anton as Chief Operating Officer and Board Director

Experienced Biorenewables Industry Leader to Lead Transition to Commercialization San Diego, CA and Kailua-Kona, HI – (PRNewswire – 03/11/15) – Cellana, Inc. today announced that David Anton, Ph.D., has been appointed as Chief Operating Officer and has been elected to the Board of Directors of the company. In the COO position, Dr. Anton will lead the transition of Cellana’s paradigm-shifting ALDUO™ algae cultivation technology platform into a commercial reality. He brings over 30 years of technology and product development experience to the company, including prior leadership roles at DuPont, Codexis, and Joule. “David’s extensive experience spans fermentation and photosynthetic-based production platforms, with both large and small companies. As COO and a new board member, David brings to Cellana a remarkable combination of technology development expertise, commercialization experience, and business acumen that dovetails with Cellana’s dual focus on both high-value and high-volume products,” stated Martin Sabarsky, Cellana’s Chief Executive Officer. “We […]

State of the Algae Industry: 10 Top-Level commercial leaders look at the path to scale

The 2014 Algae Biomass Summit at two key sessions featured 10 of the leading companies in the algae sector, including Martin Sabarsky, CEO, Cellana. He stated: Last 15 years there has been a combination of $100 million in private investment and public funding from government sources, labs to bring this technology to commercial scale, highlighted by a new grant from DOE in the last few weeks The DOE is gone very far and been instrumental in supporting the industry Signature off-take agreement with Neste Oil, signed last year We produce multiple products, primarily by volume fuel grade oils and feed – multiple products improve the economics Our demonstration facility is in Kona, Hawaii Our vision of Cellana’s expansion involves a multi-phase approach Yield is coming up and costs going down with scale Comments from all the companies, their interaction with the Algae Biomass Summit delegates in the Q&A, and their projected key […]

Energy Department Awards $3.5 Million to Cellana to Develop Cost-Competitive Algal Biofuels

July 17, 2014 – 11:52am The Energy Department announced today $3.5 million for an algae project aimed at accelerating the development of sustainable, affordable algal biofuels. This research project supports the Department’s goal of producing 2,500 gallons of algal biofuel feedstock per acre per year by 2018, an important milestone toward reducing the cost of algal biofuels to cost-competitive levels of 5,000 gallons per acre per year by 2022. Cellana, LLC, in Kailua-Kona, Hawaii, was selected to receive $3.5 million to develop a fully integrated, high-yield algae feedstock production system by integrating the most advanced strain improvement, cultivation, and processing technologies into their operations at their Kona Demonstration Facility. The Energy Department’s Office of Energy Efficiency and Renewable Energy accelerates development and deployment of energy efficiency and renewable energy technologies and market-based solutions that strengthen U.S. energy security, environmental quality, and economic vitality. Learn more about EERE’s work with industry, academia, and national laboratory […]

Cellana Signs Letter of Intent with Galil Algae for the Commercialization of High-Value Algae Biomass for Aquaculture and Other High-Value Applications

Whole-Algae Products Represent an Extension of Cellana’s Multi-Product Biorefinery Model for the Profitable Production of Photosynthetic Algae Biomass That Can Address Feeds, Fuels, Nutraceutical, and Cosmetic Applications Simultaneously San Diego, CA and Kailua-Kona, HI – (Marketwire -06/23/14) – Cellana, Inc. today announced that it has entered into a letter of intent with Galil Algae Cooperative Agriculture Society Limited, with the objective of partnering for the production of high-value algae products for aquaculture applications.  Currently, Cellana produces industrial-scale quantities of ReNew™ Algae – high-value algae biomass rich in Omega-3 nutritional oils, proteins, fuel-grade oils, cosmetic-grade oils, acids, and polysaccharides, as well as other valuable micronutrients – at its Kona Demonstration Facility in Hawaii.  At its facility in northern Israel, Galil Algae currently produces a variety of whole-algae products that are rich in Omega-3s for aquaculture applications. The main goal of the program contemplated by the letter of intent is to identify, cultivate, […]

Martin Sabarsky, CEO, Cellana, Inc. Appointed to Board of Directors of the Algae Biomass Organization (ABO)

Diverse group from across industry’s value chain represents algae production, end-users and professional services ASHINGTON, DC (June 4, 2014) The Algae Biomass Organization (ABO), the trade association for the algae industry, today announced the election of eight members to its Board of Directors for the 2014-2016 term. The group includes both new and existing (re-elected) members who will join seven current members of the Board of Directors. The newly elected board members included Martin Sabarsky, Chief Executive Officer, Cellana, Inc. Read more.

Cellana Highlights Taking A Waste Not-Want Not Approach for Algae-based Products

Genomatica Part of Biorenewables Pivot BIOTECH: Lack of Market For Biofuels Spurs Flexibility By MEGHANA KESHAVAN, April 14, 2014, San Diego Business Journal, Biofuels don’t hold the same cachet or glamour they once had, but companies like San Diego’s Genomatica Inc. are showing that the market opportunity is still there for biorenewable products. In particular, specialty chemicals and nutritional supplements are proving to be economically viable industries in the sustainability space. These companies use natural substances like algae, corn and discarded sugar cane fibers to produce crude oil or industrial chemicals. But while the technology hasn’t yet matured to a point where biofuels are cheaper or even cost-competitive with natural gases – a recent rise in fracking has taken the pressure off of energy securities – smaller scale production of globally traded chemical, nutritional and even pharmaceutical commodities has become profitable. “There was a lot of hype and enthusiasm […]

Cellana Participates in the Launch of the Congressional Algae Caucus

Martin Sabarsky, JD, MBA, Chief Executive Officer of Cellana, participates in the launch of the Congressional Algae Caucus, founded October 23, 2013, by Congressman Scott Peters (D-CA) and Congressman Matt Salmon (R-AZ) in an effort to inform members and staff about the potential benefits of algae. With new production facilities planned or operating around the U.S., the algae industry is rapidly emerging as an opportunity to address many of the energy, food, economic, and environmental challenges facing the world today. Algae has the power to simultaneously put fuels in vehicles, recycle CO2, provide nutrition for animals and people and create jobs for millions of Americans without harmful impacts on freshwater supplies or valuable agricultural land. Learn more >

Cellana Announces Key Appointments and Promotions

SAN DIEGO and KAILUA-KONA, Hawaii, Oct. 1, 2013 — SAN DIEGO and KAILUA-KONA, Hawaii, Oct. 1, 2013 /PRNewswire/ — Cellana, a leading developer of algae-based feedstocks for biofuels, animal feed/food and Omega-3 nutritional oils, announced today that Valerie Harmon has been appointed as Cellana’s senior director of Research and Development (Kona), Xuemei Bai, Ph.D., has been promoted to senior director of Research and Development (San Diego) and Selena Ellis-Vizcarra has been promoted to senior director of Corporate Development. Harmon has over 25 years of experience in industrial-scale and commercial-scale algae production and will assume primary responsibility for the large-scale production of algae biomass in Cellana’s Kona Demonstration Facility. Prior to joining Cellana, she most recently served as director of Cultivation, Environment and Safety Systems with Aurora Algae. Before Aurora, Harmon served in multiple roles with Cyanotech Corporation, a world leader in the commercial production of algae-based astaxanthin and spirulina for nutraceutical applications, including as director […]

Cellana to Provide Commercialization and Technology Updates at the 2013 Algae Biomass Summit

(SAN DIEGO, CALIFORNIA AND KAILUA-KONA, HAWAII, September 26, 2013) – Cellana, a leading developer of algae-based feedstocks for biofuels, animal feed/food, and Omega-3 nutritional oils, announced today that several key personnel will present at the upcoming 2013 Algae Biomass Summit.  The 2013 event will take place Sept. 30 – Oct. 3 at the Hilton Orlando in Orlando, Florida, and Cellana will be exhibiting at Booth #205 in the Exhibit and Poster Hall. Martin A. Sabarsky, Cellana’s Chief Executive Officer, will present at a plenary panel entitled, “The Algae Fuel Solution – Updates from Algenol Biofuels, Sapphire Energy, and Cellana,” which is scheduled for Tuesday, Oct. 1 at 8:45 am.  During the presentation, Mr. Sabarsky will provide an update on Cellana’s progress since the last Summit, including details of Cellana’s industry-leading off-take agreement with Neste Oils for biofuel applications, which was announced earlier this year. Xuemei Bai, Ph.D., Principal Scientist for […]

Cellana selected as one of 2013 “Cool Companies”

“Cool Companies” for the Venture Summit have been selected! The 30 San Diego businesses will be prominently featured at Venture Summit in front of 700 attendees, including over 100 venture capitalists from around California and the nation. Venture Summit is one of the most popular events and connects top entrepreneurs from the region with investors from Southern California, the Bay Area and other areas to see the innovation climate that thrives in San Diego. Read more »

San Diego-Based Algae Biofuel Strikes ‘Milestone’ Deal With Oil Giant

Susan Murphy | 06.07.13 | SAN DIEGO — San Diego-based Cellana, a developer of algae bioproducts, has signed a commercial-scale agreement with Neste Oil, the world’s largest producer of renewable diesel. Under the off-take agreement, Neste Oil has agreed to purchase large volumes of Cellana’s algae-based crude oil if Cellana can increase its future production capacity. Read more at »

Cellana and Neste Oil ink key offtake pact for algae biofuels

Jim Lane | June 7, 2013 | Making Gold from Green? A multi-year deal between Neste Oil and Cellana may point to the future of commercializing algae biofuels. Will the hybrid product, hybrid technology route be a winner? In California, Cellana announced that it has entered into a multi-year, non-exclusive, off-take agreement with Neste Oil for commercial-scale quantities of Cellana’s ReNew Fuel algae oil feedstocks for biofuel applications. Cellanaexpects to be able to produce algae oil on a commercial scale from late 2015 onwards. Read more at »

Cellana Cuts Algae Biofuel Deal with Finland Oil Giant

Luke Timmerman | 06.06.13 | 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. Read more at »

Cellana and Neste Oil Enter Into Multi-Year, Commercial-Scale Off-Take Agreement for Algae Oil Feedstock for Biofuels

(SAN DIEGO, CALIFORNIA AND KAILUA-KONA, HAWAII, June 6, 2013) – Cellana, a leading developer of algae-based feedstocks for biofuels, animal feed, and Omega-3 nutritional oils, announced today that it has entered into a multi-year off-take agreement with Neste Oil, the world’s leading supplier of renewable diesel, for commercial-scale quantities of Cellana’s ReNew™ Fuel algae oil feedstocks for biofuel applications. Under the agreement, Neste Oil has committed to purchase crude algal oil produced by commercial-scale algae biorefineries that Cellana is developing worldwide.  The agreement is contingent on Cellana’s future production capacity and on compliance with future biofuel legislation in the EU and US, among other factors.  The agreement between Cellana and Neste Oil is non-exclusive and allows each company to enter into additional agreements with other parties. “Cellana is honored by Neste Oil’s commitment to this commercial off-take agreement, as they are the world’s largest supplier and distributor of renewable diesel,” […]

Cellana Appoints Michael J. Kamdar as President

Seasoned Biopharmaceutical Executive to Accelerate Company’s Commercialization Efforts (SAN DIEGO, CA AND KAILUA-KONA, HI – May 22, 2013) – Cellana, Inc., a leading developer of algae-based bioproducts for the pharmaceutical, nutraceutical, fuel and animal feed industries, announced the appointment of Michael J. Kamdar as president of Cellana. Kamdar will be primarily responsible for commercialization, business development, research and development and operations. “We are very pleased to have Michael join the Cellana team. His track record of success in building, funding and leading biotechnology and biopharmaceutical companies is very impressive,” said Martin Sabarsky, Cellana’s CEO. “Michael’s significant biopharmaceutical industry experience, including with both private and public companies, complements our existing team and will help accelerate our three-product business model into commercialization with a particular focus on the high-value portion in pharmaceutical and nutraceutical oils.” “Cellana is entering an exciting growth stage as it begins to see its leading position in algae-based […]

National Algae Testbed Kicks Off at ASU

Algae Testbed Public-Private Partnership (ATP3) members from across the U.S. gathered at the Arizona State University Polytechnic campus April 15-18 for their national kickoff meetings to discuss strategies for advancing research and development of algae-based technologies for biofuels and other valuable coproducts. Led by the Arizona Center for Algae Technology and Innovation (AzCATI) at ASU, representatives from the National Renewable Energy Laboratory, Sandia National Laboratories, Cellana, Touchstone Research Laboratory, Valicor Renewables, California Polytechnic University San Luis Obispo, Georgia Institute of Technology, University of Texas at Austin, and Commercial Algae Management are partners in the recently formed ATP3. Their mutual goals are to facilitate innovation, empower knowledge creation and accelerate growth of the emergent algal energy industry via this high-level collaboration. Read more at

Cellana Announces Its ReNew™ Line of Algae-Based Omega-3 EPA and DHA Oils, Animal Feed, and Biofuel Feedstocks

Samples Available Now for Customer Evaluation for Animal Nutrition and Biofuel Applications and in Second Half of 2012 for Omega-3 Applications SAN DIEGO, CA AND KAILUA-KONA, HI – (Marketwire -06/06/12) – Cellana, Inc. announced the launch of its ReNew™ brand and ReNew™ Omega-3 line of algae-based products at the GOED (Global Organization for EPA and DHA) conference being held this week in Boston, Massachusetts.  The ReNew™ brand was developed to meet the growing demand for more sustainable Omega-3 human health products, animal nutrition products, and biofuel feedstocks. The ReNew™ portfolio is comprised of four main product categories: ReNew™ Omega-3 Compelling scientific evidence continues to show the health benefits of a diet rich in the Omega-3 fatty acids EPA and DHA. This has led to an increase in worldwide consumption of fish and fish oils — the main sources of Omega-3 EPA and DHA oils currently. However, unknown to many, fish […]

Cellana to Sponsor and Present at the 2012 BIO World Congress on Industrial Biotechnology and Bioprocessing

KONA, HI–(Marketwire -04/30/12)- Cellana LLC, a leading developer of algae-based biofuels and bioproducts, is a sponsor and scheduled presenter at the 2012 BIO World Congress on Industrial Biotechnology and Bioprocessing. The conference is taking place April 29 – May 2, 2012, at the Gaylord Palms Resort and Convention Center in Orlando, Florida. Martin Sabarsky, president and chief executive officer, will moderate a panel, Algal Biofuels: Advancements in Technology and Commercialization, on Monday, April 30, at 10:30 am EDT. Sabarsky will also be presenting on a panel, Innovative Growth Strategies for Industrial Biotechnology, on Wednesday, May 2, at 10:30 am EDT. Cellana has an exhibitor booth (#113) in the Gaylord Palms Resort and Convention Center. For more information on the BIO World Congress on Industrial Biotechnology and Bioprocessing visit About Cellana Cellana, a Hawaii-founded developer of algae-based biofuels and bioproducts, is focused on using the most productive plants on earth — […]

ABS Wraps with Upbeat Message to the Industry—and the World

(, October 27, 2011) – There was an obvious evolution to the annual Algal Biomass Summit that concluded Thursday, Oct. 27, in Minneapolis, symbolized by an attendance increase of 25% over last year’s event in Phoenix – to 793, a 50% increase in trade show exhibitors—to 72 booths, more than 100 poster presentations, and 125 speakers. “The quality of the presenters was so much higher than in the past,” said ABO Executive Director Mary Rosenthal. “It’s become highly competitive to participate as a speaker. This was the first year we had to turn people down—we had 300 submissions for the 125 slots available.”  (Read Article)

KHON2 – Be Green – New Energy Source

(KHON2/Kirk Matthews, October 25th, 2011) – KHON2 5pm evening news broadcast (KHON2 5pm evening news – be green – Cellana)

NELHA’s Cellana at Forefront of Emerging Biofuel Industry

(West Hawaii Today/Erin Miller, May 14, 2011) -Martin Sabarsky would love to see a commercial algae-to-biofuel refinery on every Hawaiian island (Read article).

Cellana Receives $5.5 Million USDA and DOE Grant to Develop New Algae-Based Animal Feeds

(Kona, Hawaii, May 12, 2011) — Kona-based Cellana LLC, a leading developer of algae-based biofuels and bioproducts, has received a three-year $5.5 million grant to develop a protein supplement from algae as a byproduct of algal biofuels production and to demonstrate its nutritional and economic value in livestock feeds. Funding is provided through the U.S. Department of Agriculture (USDA)’s National Institute of Food and Agriculture (NIFA) and the U.S. Department of Energy (DOE)’s Biomass Program through the Biomass Research and Development Initiative and will help increase the availability of alternative renewable fuels and biobased products to diversify the nation’s energy resources.  The award was made through a competitive selection process. Cellana LLC, a subsidiary of Cellana, Inc. (formerly HR BioPetroleum, Inc.), will receive $5,521,173 for the project, titled “Developing a New Generation of Animal Feed Protein Supplements.”  Under this grant, Cornell University will be conducting large-scale animal feeding trials using algae […]

Cellana’s Kona Demonstration Facility and Patented Algae Production Process Showing Promising Results

(Kona, HI, May 3, 2011) –Company is leveraging technology investments to date of over $100 million; Company is focused on government programs and new corporate partnerships; Plan for Maui commercial algae facility on track for 2014. Cellana LLC is positioned to be the first algae company to ramp up to commercial deployment for a biofuel application in Hawaii. This commercial algae facility would also represent one of the first of its kind in the United States. “Cellana’s patented process for growing algae at industrial scale is showing promising results. With thousands of different strains already evaluated, we are growing algae strains capable of producing up to 60 tons of biomass containing 3,800 gallons of algal oil per acre per year,” explained Martin Sabarsky, Cellana’s chief executive officer. “Cellana is now producing experimental quantities of up to a ton per month of Hawaiian strains of algae at our demonstration facility in […]

HR BioPetroleum Makes Changes Name, Board, and Leadership

(Kona, Hawaii, April 25, 2011) –HR BioPetroleum, Inc. (HRBP), a leading developer of algae-based biofuels and bioproducts, announced today that the company has changed its name to Cellana, Inc., promoted Martin Sabarsky to president and chief executive officer, and that Mike May was elected to the board of directors. Former CEO Ed Shonsey will remain on the board, joining chairman and co-founder C. Barry Raleigh, Ph.D., May and Sabarsky, who was also elected to the board at a recent shareholders’ meeting. HR BioPetroleum, now Cellana, Inc., founded in Hawaii in 2004, uses the most productive plants on earth – marine algae – to produce feedstocks for biofuels, aquaculture feed, animal feed, cosmetics, industrial chemicals and other valuable products while simultaneously reducing industrial emissions of CO2. In 2007, HRBP and Royal Dutch Shell PLC, the international energy company, formed Cellana as a separate joint venture to build and operate a six-acre demonstration […]

HR BioPetroleum to Acquire Shell’s Shareholding in Cellana Algae Joint Venture

(Honolulu, HI, January 27, 2011) — HR BioPetroleum, Inc. (HRBP), a Hawaii-based and -founded renewable biofuels company, today announced that it will acquire Shell’s shareholding in Cellana, a joint venture between Shell and HRBP. On January 31, 2011, HRBP will become the sole owner of Cellana, including its six-acre demonstration facility in Kona, Hawaii. In 2007, HRBP and Royal Dutch Shell PLC, the international energy company, formed Cellana as a separate joint venture to build and operate a demonstration facility to grow marine algae and produce vegetable oil for conversion into biofuel. To date, it is one of the most advanced operational demonstration facilities among algae-to-biofuel organizations and companies in the United States. ‘‘The acquisition of Cellana represents a significant opportunity for HRBP and its corporate and project stakeholders, including the University of Hawaii, Hawaiian Electric Company, Maui Electric Company, the National Alliance for Advanced Biofuels and Bioproducts consortium, the […]

Cellana Leads $9 Million DOE Funded Consortium for Algae-based Fuels and Feeds

(Washington, DC, June 28, 2010) – The U.S. Department of Energy announced today the investment of up to $24 million for three research groups to tackle key hurdles in the commercialization of algae-based biofuels. The selections will support the development of a clean, sustainable transportation sector – a goal of the Department’s continued effort to spur the creation of the domestic bio-industry while creating jobs. Developing cost-effective renewable transportation fuels is a key component of the Administration’s strategy to cut greenhouse gas emissions and move the Nation toward energy independence. “Partnerships such as these focus the creative powers of the public, private, and academic sectors on key challenges facing the development of renewable energy for transportation,” said Assistant Secretary for Energy Efficiency and Renewable Energy Cathy Zoi. “The United States must find effective ways to hasten the development of technologies for advanced biofuels made from algae and other renewable resources […]

HR BioPetroleum, A Member of the National Alliance For Advanced Biofuels and Bioproducts (NAABB) Consortium, is Participating in a Nearly $44 Million Investment for Advanced Biofuels

(January 13, 2010) — Recovery Act Announcement: Secretary Chu Announces Nearly $80 Million Investment for Advanced Biofuels Research and Fueling Infrastructure U.S. Department of Energy Secretary Steven Chu today announced the investment of nearly $80 million under the American Recovery and Reinvestment Act for advanced biofuels research and fueling infrastructure that will help support the development of a clean sustainable transportation sector. The selections announced today—two biofuels consortia for up to $78 million to research algae-based and advanced biofuels—are part of the Department’s continued effort to spur the creation of the domestic bio-industry while creating jobs. “Advanced biofuels are crucial to building a clean energy economy,” said Secretary Chu. “By harnessing the power of science and technology, we can bring new biofuels to the market and develop a cleaner and more sustainable transportation sector. This investment will help spur the creation of the domestic bio-industry, while creating jobs and reducing […]

HR Biopetroleum (Now Cellana) is Participating in the $25 Million Grant Awarded to UOP by the U.S. Dept. of Energy for Biofuels Production

(Des Plaines, IL, Jan. 12, 2010) Honeywell’s UOP Awarded U.S. Department of Energy Grant for Conversion of Waste Biomass to Green Transportation Fuels DES PLAINES, Ill., Jan. 12 /PRNewswire-FirstCall/ — UOP LLC, a Honeywell (NYSE:HON) company, announced today it has been selected for negotiation of a $25 million award from the U.S. Department of Energy (DOE) to build a demonstration unit in Hawaii to convert cellulosic biomass into green transportation fuels. As part of the DOE’s effort to help reduce U.S. dependence on foreign oil, spur the creation of the domestic bio-industry and create new jobs, this project will use cellulosic biomass feedstocks like forestry and agricultural residuals or algae residuals to produce the liquid biofuel pyrolysis oil, which will then be upgraded into green transportation fuels. The demonstration plant, which will be built at the Tesoro Corp. refinery in Kapolei, Hawaii, is expected to start up in 2014. “As […]

Governor Lingle Names HR BioPetroleum an Innovation Award Winner

(Honolulu, HI, Apr. 17, 2009) Governor Linda Lingle today named three recipients of the Governor’s Innovation Awards for their commitment to creative thinking and new ideas which result in better products, services and processes, while also improving Hawaii’s future. Through disruptive ideas, as one of our award winners refers to innovation, this latest group of innovators is helping us all realize the importance of looking beyond what’s always been done, and striving for how we can do things better, said Governor Lingle. As these award winners demonstrate, innovation can be something as simple as using native plants to landscape our roadways, to more leading-edge development of new technologies that can restore people’s sight or generate valuable products from marine algae. The recipients of the Governor’s Innovation Award for February 2009 are as follows: Innovation by an Individual: Hank Wuh In 2003, Hank Wuh founded Cellular Bioengineering Inc. (CBI), a Hawaii-based […]

Bio Asks Congress to Help Small Businesses Find New Sources of Capital in Wake of Financial Downturn

(Washington, D.C. Oct. 14, 2009) – Small biotechnology companies developing new medical therapies and advanced biofuels need help attracting new capital, as investors have become especially risk averse. The Biotechnology Industry Organization (BIO) today conveyed support for the Small Business Early-Stage Investment Act of 2009, which would create a funding program at the Small Business Administration to stimulate growth in early-stage technology-based companies. In testimony before the House Small Business Committee, Martin Sabarsky, chief financial officer and chief operating officer of HR BioPetroleum, Inc., said on behalf of BIO: “Private equity and capital markets are increasingly failing to fund promising, early-stage scientific research, primarily because it is viewed as too high-risk relative to other investment opportunities. This critical phase of commercial development is often referred to as the ‘Valley of Death’ within the biotechnology industry, given the potential for companies and technologies at this stage of their existence literally to […]

Martin Sabarsky Joins HR Biopetroleum (Now Cellana) as Chief Financial Officer and Chief Operating Officer

(Honolulu, HI, Sept. 23, 2008) — HR BioPetroleum, Inc. (HRBP) announced today the appointment of Martin Sabarsky as Chief Financial Officer and Chief Operating Officer. Mr. Sabarsky had been consulting with HRBP throughout 2008 in the development of the Company’s business plan, financial models, and in strategic partnering discussions, including the Company’s recently-announced memoranda of understanding with Hawaiian Electric Company, Maui Electric Company, and Alexander & Baldwin for a commercial algae facility on Maui. Over the past 13 years, Mr. Sabarsky has demonstrated significant leadership in the industrial biotechnology industry, in addition to spear-heading major transactions across multiple industries, including the biotechnology industry. Prior to joining HRBP, Mr. Sabarsky was Vice President of Corporate Development at Diversa Corporation and a member of the Executive Committee, where he led the corporate development function and executed additional strategic roles within the Finance and Accounting department. Before Diversa, Mr. Sabarsky worked as an investment […]

HR BioPetroleum, Alexander & Baldwin, Hawaiian Electric and Maui Electric to Develop Algae Facility for Biodiesel on Maui

(Honolulu, HI, Jul. 15, 2008) — HR BioPetroleum, Alexander & Baldwin, Inc. (NASDAQ: ALEX), Hawaiian Electric Company and Maui Electric Company, subsidiaries of Hawaiian Electric Industries, Inc. (NYSE: HE), today announced that they have signed memoranda of understanding to pursue the joint development of a commercial-scale microalgae facility on Maui to produce lipid oil for conversion to biodiesel and other valuable products, such as animal feed. Under the agreements: HR BioPetroleum will be responsible for overall project management, including obtaining financing, and construction and operation of the microalgae facility. Alexander & Baldwin will provide strategically located land, adjacent to Maui Electric’s Ma’alaea Power Plant, to site the algae production ponds and processing plant, and may provide equity capital to the project. Hawaiian Electric and Maui Electric companies will lead in determining the permitting and construction needs for piping to carry stack gases containing carbon dioxide, which the algae consume, from […]

Biofuel Company Hires Ed Shonsey to Commercialize Its Patented Third Generation Algal Oil Technology

(Honolulu, HI, Jun. 30, 2008)–HR BioPetroleum (HRBP), a renewable bioenergy company based in Hawaii, has named Ed Shonsey as CEO and a member of its board of directors. He has been authorized to set and implement an aggressive new corporate strategy which will complement HRBP’s recent alliance with Royal Dutch Shell PLC. The University of Hawaii and CEROS of Hawaii have also joined forces with the company to make algal bioenergy solutions a reality and to mitigate CO2 emissions from the air. HRBP was founded by two renowned University of Hawaii scientists, Dr. Mark Huntley and Dr. C.Barry Raleigh who are also members of the Board. Shonsey has strong, in-depth leadership experience in transforming technology into commercial products across public and private companies. He was most recently CEO of Diversa Corporation (NASDAQ), a world leader in specialty enzymes and bioenergy solutions. He has also held executive positions with Syngenta Seeds […]

Alternative State – Hawaii Has Become an Incubator for All Sorts of Renewable-Energy Projects

(Honolulu, HI, Jun. 28, 2008)– A state better known for sun and fun is quietly morphing into one of the world’s leading incubators of alternative energy… Wall Street Journal