At World Biofuels Markets (WBM) 09, the scene last year of mass protests against corn and soy based biofuels, PetroAlgae this year helped demonstrate the near-term commercial viability of algae-based biofuel.
In contrast with corn and soy, algae does not compete with the food supply, actually consumes C02 (2.2 times its own weight), leaves no toxic waste during the harvesting process, is essentially carbon neutral and is 25x to 100x more productive than other crop feedstocks.
PetroAlgae can replace the entire world's supply of diesel on a very small fraction of the Earth's landmass.
While the benefits of algal fuel are clear, commercialization has so far been unattainable.
While most algae companies to date have focused almost exclusively on the science of algae, PetroAlgae has focused on developing a turnkey modular construction that can be replicated on a massive scale globally.
The PetroAlgae process ensures consistency and efficiency, which directly leads to lower costs.
"While the final verdict has not yet been issued on the long-term prospects of the algal fuel market, we have reached nearly every plateau we've aimed to hit," said John Scott, Chairman of PetroAlgae.
"We've never been more confident in our business model and ability to compete with other biodiesel crop feedstocks. We expect to have a fully functioning commercial scale pilot facility operational in the coming months."
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