Algae farm in Mexico to produce ethanol in '09
- added June 12, 2008
- 1 response
-
-
-
-
- TyMarshal
- added this
-
Rather than squeeze algae for its oil, Algenol wants to turn each algae cell into a tiny ethanol factory.
The Maryland-based company said that business partner BioFields has licensed its technology and committed $850 million to build a saltwater algae farm in the Sonoran Desert in northwest Mexico. Production is scheduled to begin next year.
BioFields paid over $100 million to license Algenol's technology, Algenol CEO Paul Woods said Thursday. He said the ethanol produced at the farm will cost $1 less than today's gasoline, or about $3 per gallon.
Algenol's technology was first developed in the mid 1980s. When oil hit $50 a barrel in 2006, Woods stepped up efforts to commercialize it.
The company chose from a collection of 10,000 strains of algae and used molecular biology to enhance certain traits. Specifically, company engineers enhanced certain algaes' ability to make sugar and, through their enzymes, to ferment sugar into ethanol.
The Maryland-based company said that business partner BioFields has licensed its technology and committed $850 million to build a saltwater algae farm in the Sonoran Desert in northwest Mexico. Production is scheduled to begin next year.
BioFields paid over $100 million to license Algenol's technology, Algenol CEO Paul Woods said Thursday. He said the ethanol produced at the farm will cost $1 less than today's gasoline, or about $3 per gallon.
Algenol's technology was first developed in the mid 1980s. When oil hit $50 a barrel in 2006, Woods stepped up efforts to commercialize it.
The company chose from a collection of 10,000 strains of algae and used molecular biology to enhance certain traits. Specifically, company engineers enhanced certain algaes' ability to make sugar and, through their enzymes, to ferment sugar into ethanol.
-
Let's make more of these. There's plenty of lands in Nevada and Arizona to build this plant.
-
-
-
-
- MrBigShot21
- 2 months ago
-
Login/Registration is required to add a response.
