BRUSSELS, March 16 /PRNewswire/ --
At World Biofuels Markets (WBM) 09, the scene last year of mass protests against corn and soy based biofuels, PetroAlgae (OTC Bulletin Board: PALG) will this year help 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.
PetroAlgae can be found at booth 40 at World Biofuels Markets 09. PetroAlgae Chairman John Scott will present during the closing plenary session on 18 March, while chief marketing officer Fred Tennant will participate in a panel on algae as the ultimate biomass source on 16 March. PetroAlgae was nominated for this year's WBM Sustainable Biofuels Technology Award in the technology supplier category. Winners will be announced on 17 March at a gala reception.
PetroAlgae is commercializing next generation technologies to grow and harvest oil and animal feed from algae. A cost-effective substitute for petroleum oil, this remarkable process creates a renewable, carbon-neutral feedstock source for biodiesel. PetroAlgae uses naturally selected strains of micro-algae to produce rapid growth and high oil yield. Our algae-cultivation bioreactor system can be built on a massive commercial scale, creating the opportunity to produce a cost effective alternative to fossil fuels and high-protein animal feed while absorbing CO2 from green house gas emissions. Expecting to begin commercial deployment in 2009, we are engaging with licensing prospects throughout the world. PetroAlgae offers a path to sustainable and clean energy independence through a process that is scalable globally.
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