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Algae farm in Mexico to produce ethanol in '09
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Written by Daniel   
Thursday, 12 June 2008 13:10

 Rather than squeeze algae for its oil, Algenol wants to turn each algae cell into a tiny ethanol factory.

June 12, 2008 8:10 AM PDT
Posted by Martin LaMonica
C/Net news
 

The Maryland-based company said that business partner BioFields has licensed its technology and committed $850 million to build a saltwater algae farm in the Sonoran Desert in northwest Mexico. Production is scheduled to begin next year. BioFields paid over $100 million to license Algenol's technology, Algenol CEO Paul Woods said Thursday. He said the ethanol produced at the farm will cost $1 less than today's gasoline, or about $3 per gallon.   [Comments...]

 

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