Oilgae Club - an Online Community for Algae Fuel Enthusiasts Worldwide.

Algae industry gains confidence 2

Industry Gains Confidence in AlgaeAbout 40 percent of participants in a Greentech Media biofuels survey said they see algae-based biodiesel as more promising than electric vehicles, synthetic gasoline and diesel, syngas fuels or butanol. 

Industry insiders see algae-based biodiesel as the most promising green fuel technology, according to a Greentech Media survey on advanced biofuels.
About 40 percent of the 249 participants said that biodiesel was the technology that showed "the greatest potential to transform the fuel industry."
The sentiment matches that of venture capitalists, who have put more money behind algae-based biofuel companies this year than ever before, according to the Cleantech Group 
The group last month reported $129.5 million in algal investments so far this year, even before the news that algal biofuel maker Sapphire Energy had raised an additional $50 million from Bill Gates' Cascades Investments 
And in a report released Wednesday, Greentech Media senior analyst Eric Wesoff said that algae technology, along with cellulosic-ethanol technologies, helped drive venture capitalists to fund biofuels to the tune of $150 million this quarter alone 
But not everyone who took the survey agreed that slime would take over the fuel industry.
Electric vehicles took second place, winning votes of confidence from 18.4 percent of respondents. And 17.7 percent of participants picked the third-place winner, synthetic gasoline and diesel made using biological processes.
Next, at 14 percent, came liquids made from synthesis gas, or "syngas," which contains hydrogen and carbon monoxide and can be made by gasifying waste, coal or other fuel.
Meanwhile, butanol, an alcohol that advocates say could get better gas mileage than ethanol and be transported in oil pipelines, garnered only 6.4 percent of the votes. BP and DuPont in 2006 announced a partnership to develop biobutanol, and cellulosic-ethanol startup Coskata said in January it had developed an organism that makes butanol .
You can read the original article at http://www.greentechmedia.com/articles/read/industry-gains-confidence-in-algae-1510/
Sat October 02 2010 11:05:36 AM by Monterio algae fuel  |  algae biodiesel  |  survey  |  greentechmedia 1543 views

Comments - 1

  • Shankar wrote:
    Sat October 02 2010 12:23:11 PM

    Interesting article Monterio.

    I guess the survey was done before the
    " algae-based biofuel tax parity with cellulosic biofuels with
    respect to a $1.01 per gallon production tax credit and a 50 percent bonus
    depreciation for biofuel plant property. "

    After that the confidence would go up even more and the percentages in favour of algae biofuel would be even more.

    Vote Up! 0 Vote Down! 0

Login to Post a Comment