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Algenol Biofuels, developers of DIRECT TO ETHANOL(TM), the most advanced third generation biofuels technology, today announced the official opening of the Company's U.S. headquarters in Naples, Florida. The new headquarters joins established locations in Baltimore, Maryland and Palm Beach county Florida. The office will house the Company's business development and executive teams.
"The opening of our Florida offices is a significant milestone in our company's continued growth," said Paul Woods, co-founder and CEO of Algenol Biofuels. "The establishment of our North American headquarters underscores our commitment to bringing affordable biofuel options to the U.S. as we look to lessen our dependence on foreign fuel sources and reducing CO2 levels."
Algenol's Direct to Ethanol(TM) process links photosynthesis with the natural enzymes to produce ethanol inside each tiny algae cell and does not use food, farmland, or fresh water. The Company currently has the capability of producing ethanol at a rate of over 6,000 gallons per acre per year and will be producing ethanol for commercial sales in 2009.
About Algenol Biofuels
Algenol Biofuels, Inc., a privately owned company, was founded in early 2006 and is engaged in broad research and development efforts to develop industrial-scale production systems to make ethanol from algae. The company's DIRECT TO ETHANOL(TM) process is the most advanced third generation biofuels technology that produces industrial-scale, low cost ethanol using algae, sunlight, CO2 and seawater. It is the only end-to-end commercial process that stabilizes and reduces CO2 levels. Algenol is slated for commercial sales of ethanol in 2009. For more information, please visit http://www.algenolbiofuels.com.
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