The University of Washington and Allied Minds — a seed investment firm specializing in university technologies — are joining forces to launch a company based on a UW scientist’s invention of new process for creating “commercially advantageous” strains of algae to make biofuels. The start-up, AXI, LLC, will develop the technology as a methodology that can “help any algal production system improve its output of inexpensive, oil-rich algae as the raw material for the generation of biofuel,” said inventor and UW biology professor Rose Ann Cattolico. According to the Allied Minds, the new company’s algal strains “will bridge the gap between the promise of clean energy generation and the reality of economical biofuel production systems.” Company officials say algae is emerging as “the clear winner” among feedstocks that can be used for biodiesel “because significant biomass can be produced on non-arable lands (thus avoiding the food vs. fuel debate),” and greenhouse gas carbon dioxide is absorbed to support algae growth. “This technology will permit the economic use of clean algae as a viable replacement to petroleum-based fuels,” said Allied Minds CEO Christopher Silva. The investment firm is providing initial start-up funding. Go to: AutoblogGreen

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