BioDiesel Algal Conversion Technology In Bloom
GreenFuel seems to have instigated something of an algae bloom of business relationships in it’s pursuit of green fuel products. We’ve covered them before several times: here, here, and here. The bloom expands:- "GreenFuel Technologies Corporation, the leading developer of algae bioreactor systems that recycle CO2 in flue gases into clean, renewable biofuels, announced that it has signed an agreement to license its proprietary technology to Global Renewable Energy Efficiency Network, a newly formed biofuels company in the Republic of South Africa...Under the terms of the agreement, Global Renewable will have the rights to install and operate GreenFuel's Emissions- to-Biofuels(TM) algae bioreactor systems at multiple locations with commercial deployment potential of 1,000 acres or more". As a subtext to this story, another US company has a stake in South Africa’s biodiesel success: - "Green Star Products, Inc. (US OTC: GSPI) today announced that it has signed an agreement with De Beers Fuel Limited of South Africa to build 90 biodiesel reactors. Each of the biodiesel reactors will be capable of producing 10 million gallons of biodiesel each year for a total production capacity of 900,000,000 gallons per year when operating at full capacity, which is 4 times greater than the entire U.S. output in 2006. The 2-ton reactors will be built by GSPI at their Glenns Ferry Facility in Idaho and delivered over the next 18 months".
The logical question which flows from this news is ‘why is not the same level of capital investment occurring in North American?’