Not GreenFuel's algae tanks, but you get the idea... photo: Jurveston (flickr)
Calling themselves a "victim of the economy," algae biofuel company GreenFuel Technologies is shutting down, Greentech Media reports:TreeHugger had of GreenFuel technologies going back to 2005, but came to the end of the line after experiencing delays and technical difficulties. The plan was to take CO2 from power plant smokestacks and use it speed the growth of algae in sealed bioreactors. This would then be turned into biodiesel, with the leftovers sold on for other purposes.
Greentech Media sums up the main problems,
Getting the whole thing to run smoothly, though, was tougher than expected. GreenFuel could grow algae. The problem was controlling it. In 2007, a project to grow algae in an Arizona greenhouse went awry when the algae grew faster than they could be harvested and died off. The company also found its system would cost more than twice its target.
Earlier in the year, GreenFuel laid off 19 employees, half its staff—CNET reporting that at the time their were complaints that the company's operations and finances were mismanaged.
via: Greentech Media, CNET
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