Beveridge & Diamond
 

Algae-Based Biofuels Attract Surge of Government Incentives and Corporate Investments

Beveridge & Diamond, P.C., September 18, 2009

Algae, the lowest point on the food chain, may yet prove to be among the principal “green” alternatives to petroleum-based fuels.  This, at least, is a view that appears to be gaining currency among key federal agencies, legislators, and several prominent companies that have recently announced substantial investments in algae-based (or “algal”) biofuels.

Algae have long been recognized for their potential as a fuel source, as illustrated by nearly two decades of federally-funded research under the U.S. Department of Energy (“DOE”) Aquatic Species Program, which focused largely on the development of algal biodiesel.  However, the relatively high cost of large-scale algal fuel production as compared to petroleum diesel costs was found to be a critical obstacle to algae’s commercial viability.  Now, more than ten years after the DOE program, the forecast appears to be changing.

For the full report on algae-based biofuels please click here.

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