Sapphire Energy pays off government loan

Sapphire Energy has paid off the entire loan guarantee of $54.5m awarded to the company by the U.S. Department of Agriculture in  Dec. 2009 to build a fully integrated, algae-to-crude oil commercial demonstration facility in Columbus, N. M. In partnership with the USDA and the U.S. Department of Energy, Sapphire Energy developed and implemented its facility, known as the Green Crude Farm, on time and on budget, which is now operational and producing renewable crude oil on a continuous basis. The company expects to be producing 100 barrels of crude oil per day in 2015, and at commercial-scale production in 2018.