Algae high-yield production technology for advanced biofuels - aviation, transport, fuel security, carbon capture
A COMPANY that uses algae to produce biofuels and store carbon dioxide will make its debut on the stock exchange today after raising $5.1 million from investors.
Algae.Tec, an Australian-US collaboration, has signed a memorandum of understanding with the ethanol producer Manildra for a demonstration algae production plant at Manildra’s starch and ethanol facility at Nowra on the NSW south coast.
Algae.Tec Limited ASX: AEB an advanced biofuels company with a pioneering highly-efficient algae growth and harvesting system (the McConchie-Stroud System) is listing on the ASX today at 10am WST today.
Perth, Western Australia/Atlanta, Georgia – 13 January 2011 – Algae.Tec Limited (ASX:AEB) an advanced biofuels company with a pioneering highly-efficient algae growth and harvesting system (the McConchie-Shroud System) is listing on the ASX today at 10am WST today.
Algae.Tec CEO Roger Shroud said Algae.Tec will be the first algae company to list on a main board stock exchange in the world, and one of the few cleantech companies to list in Australia.
“The Algae.Tec McConchie-Shroud System is designed to produce valuable sustainable bio-fuels and bio jet fuels,” said Shroud.
Chatter on an internet forum in the late 1980s was Roger Stroud’s introduction to the idea of biofuels. At a time when oil prices were comparatively low, enthusiasm for such technology was limited. But Roger Stroud was intrigued. “I thought renewable fuels had a lot of merit, so I pursued it further,” he say.
The production of biofuels relies on a crop. In the early 2000s, Stroud traveled the globe looking at potential crops, from mustard seeds to palm oil. In 2003, He met Earl McConchi, a chemical engineer with 25 years experience at United States company Dow Chemical.
“He and I hit it off immediately,” Stroud says. “We both agreed the biggest problem with biofuels in general is the lack of sustainability.”
A Perth-headquartered company aims to have a significant impact on the environment with its innovative fuel replacement technology. Algae.Tec Limited is in the final days of its initial public offering (IPO), which directors believe will provide the financial foundation for commercialisation of the McConchie-Stroud System and the production of microalgae for conversion into feedstock for biodiesel, jet fuel and ethanol.
Pond Biofuels plans to capture St. Mary’s cement carbon emissions to grow and harvest high-value biomass from algae, reports Inhabitat. The nutrient-rich algae will be used to fuel the cement plant’s kilns and truck fleet. Cement makers are one of the largest carbon-emitting industries, contributing five percent of global emissions, which is only exceeded by the steel and oil refinery sectors.
Australia’s first climate change advocacy fund has chosen to target four resource companies in the first campaign of its type to be launched in Australia, and possibly the world. … Victoria has thrown its financial weight behind TruEnergy’s proposed 180MW solar plant near Mildura, promising to a grant of $100 million if it wins support from the federal government under the Solar Flagships program. … WA’s Verve Energy is to double its renewable generation capacity after winning government support to build a 10MW solar pv installation near Ellendale south-east of Geraldton and adding an extension to its wind farm in Albany.
Unilever joined biofuel company Solazyme’s fourth round of financing as a strategic investor, Solazyme announced yesterday. The companies already share an R&D agreement: Solazyme’s oils are already used in Unilever’s Lux soap, with the plans to incorporate more renewable oils into its personal care products, such as algal oil, a substitute for palm oil.
RICHARD Branson is betting on algae as an alternative jet fuel and has invested a chunk of his personal fortune in its development. Sir Richard has joined Unilever in investing in Solazyme as the industrial bio-tech company raised $US60 million in equity funding to develop oil-based products for use in goods ranging from biofuels to cosmetics and foods.
Algae biofuel producer Solazyme announced Wednesday it’s delivered 20,000 gallons of algae-based shipboard fuel to the U.S. Navy. Solazyme’s Soladiesel Renewable Naval Distillate fuel will go toward the Navy’s ambitious goal of getting 50 percent of its energy from renewable resources by 2020. But algae fuel is not just useful for the Navy’s ships.
THE world’s biggest mining company, BHP Billiton, is urging the Gillard government to impose a tax on carbon before any international agreement. This is in order to protect Australia’s long-term economic interests. BHP Billiton chief executive Marius Kloppers has also warned the government not to try to change the terms of the pre-election mining tax deal negotiated with the big three miners.
Algae biofuel producer Solazyme announced Wednesday it’s delivered 20,000 gallons of algae-based shipboard fuel to the U.S. Navy. Solazyme’s Soladiesel Renewable Naval Distillate fuel will go toward the Navy’s ambitious goal of getting 50 percent of its energy from renewable resources by 2020. But algae fuel is not just useful for the Navy’s ships.
Watch this web interview with Roger Stroud, Executive Chairman of Algae.Tec to hear about Algae.Tec’s upcoming IPO in Australia (on September 17th) – one of the first in the algae and biofuel sector. Algae.Tec have recently signed MOUs to build a demonstration plant in Nowra and with a Hong Kong based Chinese company who will take their technology to the Asian market.
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