Xconomist of the Week: 5 Questions with Sapphire Energy CEO Jason Pyle
by Bruce V. Bigelow (Xconomy) …Jason Pyle: …So soon, we will see the U.S. military as the leading customer for crude oil replacements. As pressure rises on the commercial airline industry (which uses most of the jet fuels in the world) to reduce carbon emissions in Europe, you also will have a market ripe for green crude. Jet and diesel distillates produced from green crude will be in demand for years to come.
…Given the state of the capital markets, the USDA loan guarantee program was a critical element in our ability to secure financing to commercially demonstrate large-scale algae cultivation for crude oil replacement processes.
…Department of Agriculture loan program is very different from the Department of Energy loan program. The USDA loan program has been around since 1936 and is rooted in the Rural Electrification Act that funded thousands of municipal governments and farmers to bring electricity to rural communities. Another form of energy I might add. This investment catalyzed a series of changes in rural America that raised farm income, increased education, and made possible the construction of a process to produce, store, transport, and export food and products throughout the world. Today, American agriculture is one of the largest U.S. exporters. It’s hard to imagine its enormous success without the government stepping in and saying that “electrification in rural communities is good for all of America, and therefore we are going to help these communities build it.” The USDA is trying to do the same thing today with crude oil replacements… READ MORE