$92 Million Algae Biofuels Deal Signed Between GreenFuel Technologies & Aurantia

Of all the biofuel feedstock options currently on the table, the only one with a real shot of displacing significant quantities of fossil fuels is algae. To date there have been a number of participants in the race to produce commercial quantities of algae oil, but few have produced much beyond demonstration projects.

Though GreenFuel Technologies is still among those, the company has announced a deal which it hopes will move it from pilot projects to commercial-scale operations:CO2 From Cement Factory to Be Used
The Cambridge, Mass.-based company has announced that it has signed a $92 million multi-year deal with Spanish firm Aurantia to develop what will eventually be a 100 hectare algae greenhouse project, using CO2 recycled from from the Holcim cement plant near Jerez, Spain. Those 100 hectares are still a few years off though.

100 Square Meter Prototype Operation
At the moment, the project exists as a 100 square meter prototype operation, growing algae utilizing what GreenFilm calls in its press release a "prototype vertical thin-film algae-solar bioreactor".

Full Operation by 2011
By 2011, the company hopes to have the 100 hectare phase of the project in operation. At that time it would create 25,000 tonnes of algae biomass, consuming 50,000 tonnes of CO2 from the cement factory in the process.

via: GreenFuel Technologies and Cnet
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Tags: Biofuels | Renewable Energy | Spain | United States

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