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Diversified Energy of Gilbert, Ariz., is trying to perfect the process for growing algae and then for converting the oil-rich slime into a range of biofuels, including gasoline and jet fuel.
CEO Phillip Brown said the company has a horizontal algae-production system that can produce 150 tons of algae biomass per acre per year at a cost of $32,000.
The system is entrenched in the ground and, once harvested, the algae go through a proprietary three-step process to create the equivalent of conventional fuels.
The company has already raised $5.9 million in startup and angel funding...
Source article @ Green Tech Media
Nature gave us oil from algae; perhaps we should try Nature's way again
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