In 2006, rising oil prices prompted molecular biologist Stephen Mayfield to shift his research from algae’s medical uses to turning the green goo into green crude. His work prompted a handful of biotech entrepreneurs to found Sapphire Energy in San Diego in 2007 in the hope of producing the sustainable fuel commercially.
Gas prices have continued to climb since then, and the swift jump above $5 a gallon in some parts of California last week “is a reminder of the vulnerability Americans face, due to volatile markets and a continued reliance on finite sources of crude oil,” says Tim Zenk, Sapphire’s vice president for corporate affairs.
