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Research into algae-made biofuels has been active in the last 3 to 5 years, but it would take another 10 to 15 years to turn laboratory experiments into industrial-scale production, said Raffaello Garofalo, executive director of the European Algae Biomass Association.
Making biodiesel from algae costs at least 10 to 30 times more than making traditional biofuels at present, he said.
But extracting value from by-products, which can be used in animal feed or pharmaceutical industries, would help bring down overall price and make algae fuel competitive with traditional fuels faster, he said, adding that he saw a competitive price level at about $500 to $550 per tonne of biodiesel.
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