Cellana seeks $70-$90M in next algae funding round

In Hawaii, Cellana LLC is looking for $70 million to $90 million in venture capital to expand its algae-based biofuels plans to include fish food and nutraceuticals. The investment is for a 217-acre commercial facility on Maui that the company hopes to have up and running in the next four years. It is currently producing 1.5 tons of algae per month at its demo plant at the Natural Energy Laboratory of Hawaii Authority near Kona.