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Greentech Media: GreenFuel Technologies Closing Down The Harvard - MIT algae company winds down after spending millions and experiencing delays, technical difficulties. GreenFuel Technologies, one of the earliest, best funded and most publicized algae companies, is shutting its doors, a victim of the credit crunch . "We are closing doors. We are a victim of the economy," said Duncan McIntyre at Polaris Venture Partners , which invested in Greenfuel. Although it has raised millions of dollars and landed a high-profile deal with Auranta in Spain to erect test facilities, it could not get money to complete the project. In January, it laid off 19 people, or half of the staff. Powered by ScribeFire . Related articles by Zemanta Pervasis Therapeutics Secures $10M in New Financing (xconomy.com) Polaris to Open Dog Patch Labs Incubator in Cambridge (xconomy.com) 1366 Technologies launches solar cell with record efficiencies (green.venturebeat.com) Four Boston Sta...