Honestly, that&#x27;s just about what&#x27;s happened.. All of the companies in the biofuel world (KiOR, Solazyme, Amyris, Aurora, Algenol, Joule, Sapphire) spent a ton of money -- I think everyone on that list blew through &gt;$100M -- to develop the technology and get to the pilot level. They all failed trying to commercialize.<p>The technology still exists in the form of IP held by the investors, so if the economics ever make sense again, it would be a much shorter route to commercialization than the first time around.<p>We absolutely have the ability to make large amounts of energy from algae, cyanobacteria, cellulose, etc.  Given a few hundred million in CapEx to get a plant off the ground and a few tens of million in working capital, most of those companies break even with usable fuel at ~$150&#x2F;bbl. If you relocated the facilities to a low-cost-of-living area and started with, say $1B, you could likely produce for ~$100&#x2F;bbl. Unfortunately, the return will be very low and unstable based on global energy prices. The pitfalls of producing a volatile commodity.<p>Another random thought is that we were seeing immense progress in the quality of work out of Asia for engineering and construction for the facilities. It&#x27;s <i>expensive</i> to put steel and concrete in the ground, shockingly so for many SV investors, but the quality was quickly improving out of China &#x2F; Thailand for custom-engineered oil&#x2F;gas processing equipment. Assuming this continues to improve, the future costs will be much lower.