; charset=UTF-8" /> Solarvest Bioenergy Inc, receives Atlantic Innovation Fund Award | Oilgae Blog

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Solarvest Bioenergy Inc, receives Atlantic Innovation Fund Award

February 16th, 2009 | No Comments | Posted in Algae-Biodiesel, Algae-Energy-Companies

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SOLARVEST BIOENERGY INC., a renewable energy company committed to the development of sustainable alternative energy sources, is pleased to announce that it has been selected for an Atlantic Innovation Fund award. The award entitles Solarvest to receive up to $1.9 million in funding. Solarvest’s AIF project involves using its technology to grow algae and extract oils for the burgeoning natural oils market.

Solarvest BioEnergy’s team has demonstrated expertise in the manipulation of algae and microorganisms for industrial applications including experience with growing algae and bacteria at large scale, and experience with scaling up new technologies from the laboratory to full commercialization. As such, the company is well-positioned to deploy its skills in the development of biologically-based renewable energy. Algae have several advantages that make it the logical choice upon which to establish a renewable energy program. Algal ponds for biomass do not require arable land and can produce more fuel per acre than crop based sources. The development of biodiesel from algal oils will complement the company’s progressive program for producing hydrogen from algae, another promising biofuel.

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