Commercial-scale algae oil to transport fuels - biodiesel and green jet fuel.
Advanced algae biofuels for aviation and transport fuels
Market Watch runs the announcement that Algae.Tec (asx:AEB)(fwb:GZA)(otcqx:ALGXY), an advanced algae to biofuels company with a high-yield enclosed algae growth and harvesting system today announced commissioning for its showcase biofuels facility Shoalhaven One in Nowra Australia started this week.
RenewEconomy reports that Qantas says it needs to look for a home grown alternative to its test flight biofuel derived from used cooking oil from the US; from a fast-food chain in Kansas.
“Qantas will have no shortage of potential providers. One of those, Algae.Tec says algae fuels is a very real short-term prospect for aviation fuels. “This is a very welcome demonstration of the potential for biofuels to transform the way our transport industries use renewable and sustainable fuel,” he said of the demonstration flight.
Algae.Tec has already signed an agreement with Lufthansa to develop aviation fuels from algae, which can be harvested from feed-stocks such as carbon dioxide emissions, and has its first Australian project underway near Nowra in NSW, and has other ventures in Sri Lanka and China.”
Venture Beat reports that:
“Sapphire Energy, a company that creates algae-based fuel, just announced a whopping $144 million in funding.
In recent years several startups have emerged to create fuel out of plant material, all hoping to lure people away from gasoline made from crude oil. Solazyme, Algae.tec, and Sapphire Energy all dominate the space, trying to edge out not only each other but oil companies as well.”
Algae.Tec strategic partner the Manildra Group has been awarded the world’s first commercial certification by the Roundtable on Sustainable Biofuels (RSB).
The RSB has developed a Global Sustainability Standard and Certification System for biofuel production. The RSB Certification System is approved by the European Commission, as proof of compliance with the Renewable Energy Directive (2009/28/EC). See full story here
Biofuels Digest reports:
In Australia, Algae.Tec announced that a A$5M Placement through Patersons Securities Limited has been successfully completed. The company announced last week that it had signed a binding MOU for a 50/50 equity joint venture with Shandong Kerui Group Holding, for the construction, in Dongying (Shandong province) of an 8.7 million gallons (33 million liter) algae biofuels facility. The proposed project would also generate 33,000 tones of biomass per year.
Algae.Tec was today featured in the Australian Financial Review as “an outperformer in a risk-averse market” and that “it finished as 2011’s second-best performing IPO, its shares soaring 150 per cent, after promising operational progress”.
The West Australian, the daily business newspaper for Western Australia, has thrown the spotlight on Algae.Tec as the top IPO performer for 2011 in Western Australia. The recognition is particularly significant as Western Australia is the national centre for resources and mining. The report notes that Algae.Tec stock is up 155% on its listing price.
CleanTick reports on:
Georgia-based Algae.Tec has signed a Memorandum of Understanding with Lufthansa to jointly evaluate the potential of algae oil from Algae.Tec’s bioreactors to be developed into sustainable aviation biofuels. Lufthansa had launched a 6-month biofuel trial in July, on regular schedules flights. Lufthansa Airbus A321 is flying on a 50/50 mix of biosynthetic kerosene and regular fuel. Algae.Tec’s system combines closed control of algae production within an engineered modular environment. See more here
AlgaeNews reports that:
Perth/Australia and Atlanta/Georgia based Algae.Tec (ASX:AEB, FWB:GZA:GR, ALGXY:US) an advanced algae to biofuels company with a high-yield enclosed algae growth and harvesting system announced today that Algae.Tec Ltd and the major European airline Lufthansa have signed a Memorandum of Understanding to jointly evaluate the potential for algae oil from Algae.Tec’s bio-reactors to be developed into a sustainable source of aviation biofuels. See more here
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