Biofuel is big business. But is it big enough to float the U.S. Navy?
Can a blue-water navy run on energy from green algae?
Five years ago, the U.S. Navy set out to find out, spending $12 million to purchase 450,000 gallons of biofuel from Tyson Foods (NYSE: TSN) and TerraVia (NASDAQ: TVIA), and attempting to use it to power an aircraft carrier strike group during squadron exercises near Hawaii.