Algae-for-biofuel companies, Aurora and Solazyme, raise cash

Several companies using algae to make biofuel have raised money or are looking for money, VentureWire reports today (sub required).

In January, Rich Hilt, of Menlo Park, Calif.’s Live Fuels, wrote an article for VentureBeat, explaining the technology and why it is promising. His company is looking for about $10 million.

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Also, Berkeley, Calif.’s Aurora BioFuels has raised a $3.2 million first round, from investors including Noventi Sorgenia Ventures and Oak Investment Partners. And Menlo Park’s Solazyme has closed a “significant” new round of venture financing, VentureWire said.

Read VentureWire’s full report here (need a subscription).