Algae based alt energy cos join forces for $250M biorefinery

You are at: Oilgae Blog. See the complete list of Oilgae Blog articles.

Algae based alt energy cos join forces for $250M biorefinery

Two Arizona alternative energy outfits are joining forces to commercialize a patented technology to produce biofuel from algae.

Diversified Energy Corp. in Gilbert and XL Renewables Inc. in Vicksburg, have formed a partnership and licensing agreement for the use of Simgae, which leverages agricultural technology with algae production. Grown in long, plastic tubes, the algae is fed water and carbon dioxide and later processed for its oil and turned into biofuel.

The two companies started working together six months ago to find a way to commercialize XL's Simgae process. Using the technology is expected to lead to 100 to 200 dry tons per acre, with capital costs between $45,000 to $60,000 a year. This is up to 16 times more efficient than competing algae biofuel systems, according to Diversified statistics.

Full report here


Nature gave us oil from algae; perhaps we should try Nature's way again