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PetroAlgae Expects Initial Revenues This Year

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Algae business potential is growing rapidly. PetroAlgae does not make fuel from algae, but sells licenses — blueprints for how to make oil from algae, one of the oldest life forms on the planet. PetroAlgae says its process of maximizing the flow of light to organisms pushes algae to grow between two to three times faster than it would in its natural state.

The licenses also show buyers how to make protein from algae into animal feed or a human nutrition supplement. The company says selling the protein will offset infrastructure costs and help the fuel be competitive with the price of crude oil at current prices and even lower.

The company is in talks with several national oil companies, mostly from Latin America and Asia, some power generators and agricultural companies, Scott said.

PetroAlgae’s stock price spiked from $8 to over $32 and down again recently after oil major Exxon Mobil signed a $600 million research and development deal with a competing algae company last month.

Source: Reuters.com

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