Sapphire Energy Enters Into A Commercial Agreement With Tesoro For Purchase Of Green Crude Oil
"Tesoro is continuously looking at new technologies for producing renewable fuels. We are pleased to become a purchaser of Sapphire Energy's Green Crude, which shows promise as an alternative fuel solution," said Joel Larkins, vice president of Renewable Development at Tesoro.
About Sapphire Energy San Diego-based Sapphire Energy is pioneering an entirely new industry – Green Crude production – with the potential to profoundly change America's energy and petrochemical landscape for the better. Sapphire's products and processes in this category differ significantly from other forms of biofuel because they are made solely from photosynthetic microorganisms (algae and cyanobacteria), using sunlight and CO 2 as their feedstock; are not dependent on food crops or valuable farmland; do not use potable water; do not result in biodiesel or ethanol; enhance and replace petroleum-based products; are compatible with existing infrastructure; and are low carbon, renewable and scalable. Sapphire has an R&D facility in Las Cruces, New Mexico, and is currently operating the first Integrated Algal BioRefinery (Green Crude Farm) in Columbus, New Mexico. For more information, visit www.sapphireenergy.com or
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About TesoroTesoro Corporation, a Fortune 150 company, is an independent refiner and marketer of petroleum products. Tesoro, through its subsidiaries, operates seven refineries in the western United States with a combined capacity of approximately 675,000 barrels per day. Tesoro's retail-marketing system includes over 1,400 branded retail stations, of which 595 are company operated under the Tesoro®, Shell® and USA Gasoline(TM) brands. For more information, visit www.tsocorp.com.SOURCE Sapphire Energy, Inc.
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