Petroalgae’s tie up in China

The power of pond scum:

Green algae grow like mad when fed CO2, and if turned into biofuel can yield up to 100 times the biofuel per hectare as corn, soy or sugar cane crops. Petroalgae of Melbourne, Florida, plans to license their first 2000-hectare commercial alga biodiesel plant in China next year and says the green stuff can ingest C02 straight from the smokestacks of power plants. If emissions from all the world’s power plants were harnessed for alga growing and recycled as biodiesel, C02 emissions would drop by roughly 9 billion tonnes per year.

All ye placard holders at Copenhagen take note.

Source: http://bit.ly/74GvLp

Indian Oil to license PetroAlgae’s Micro-crop

PetroAlgae has signed a memorandum of understanding to enter into an agreement to license its proprietary micro-crop technology to Indian Oil Corporation oil from algae.

Under the agreement and the license agreement to be completed, Indian Oil will build a pilot facility to demonstrate commercial viability of producing renewable fuels from micro-crops in India.

A commercial production facility with 200,000 metric tons a year capacity would then be built under license.

Micro-crops include a range of microorganisms that can be harvested daily and yield between 25 and 100 times as much as macro-crops such as corn, soybeans and sugar cane, according to PetroAlgae.

These include algae, cyanobacteria, micro-angiosperms, and macro-algae and micro-algae. They can be grown on non-arable land, removing competition with the food supply. Micro-crop fuels are carbon-neutral, consuming nearly double their own weight in carbon dioxide.

PetroAlgae’s business model is designed to generate revenue from licensing its technology for production systems, micro-crop strains and process controls to well-capitalized companies or investors, enabling them to become high-volume algal oil producers.

“We consider our model to be the lowest-risk path to market strength in what can be a high-risk, emerging industry,” John Scott, PetroAlgae chief executive told shareholders. “We are selling the tools that will allow producers to operate with maximum efficiency in a price-sensitive, competitive environment.”

The company chooses the best microorganism for each specific location, indigenous to the region. Then it is scaled up to a high yielding micro-crop.

PetroAlgae is based in Melbourne, Florida, on the Atlantic coast. It operates a prototype production facility and research laboratories in Fellsmere, Florida, south of Melbourne.

India’s Largest Company enters ‘Oil to Algae’

PetroAlgae Announces Strategic Partnership With Indian Oil Corporation Limited

PetroAlgae Inc. (OTCBulletin Board: PALG) (PetroAlgae or the Company) today announced that PA LLC, a Delaware limited liability company that is PetroAlgae’s operating subsidiary has signed a Memorandum of Understanding (MoU) to enter into an agreement to license the Company’s proprietary micro-crop technology to Indian Oil Corporation Limited (IOCL) for its future large-scale production of renewable fuels.

Under the terms of the MoU and the license agreement to be completed, IOCL will build a pilot facility to demonstrate the commercial viability of producing renewable fuels from micro-crops. Upon achieving success, the pilot facility is expected to lead to the completion of a licensed unit for large-scale production of renewable fuels by IOCL.

IOCL publicly issued the following information on the partnership announcement:

IndianOil signs MoU with PA LLC of Florida

IndianOil signed a Memorandum of Understanding (MoU) with PA LLC of Florida to collaborate on biodiesel production from micro-algae on October 16, 2009.

The MoU was signed by Mr. B. M. Bansal, Director (P&BD) and Mr. Ottmar Dippold, CEO, PetroAlgae LLC. Fred Tennant, Executive Vice President, and Adam Wolfe, Financial Analyst, Mr. Anand Kumar, Director (R&D), were also present.

Together with PA LLC, IndianOil, will pioneer the commercial bio-diesel production from algae. IndianOil and PA LLC, initially will collaborate on adapting the algal strains and technology developed by PA LLC to suit Indian conditions. Thereafter, a pilot facility is proposed to demonstrate the
commercial viability of the technology. A commercial production facility with a capacity of 200,000 TPA of bio-diesel is proposed in the near future, along with a high-value protein that can be used as feedstock for animal feed production as a by-product.

IndianOil has been exploring commercial ventures in all form of alternate energy including, solar, wind and bio-fuels. Significant progress has been made by the Corporation in energy crop plantation. Over 850 ha of jatropha plantation has already been completed in Madhya Pradesh and Chhattisgarh.
During the next season, almost 40,000 ha of plantation is proposed to be completed along with commercial marketing of bio-diesel through IndianOil-CREDA Biofuels Limited.

About PetroAlgae Inc.

PetroAlgae (OTCBB: PALG) expects to be the first renewable energy company to commercialize a system that enables the production of a drop-in replacement for fossil fuels. The company’s globally scalable micro-crop technology produces a cost-effective alternative to fossil fuels as well as a high quality protein co-product, while absorbing carbon dioxide from greenhouse gas emissions. The green fuels produced are functionally compatible with petroleum-based fuels and therefore use the existing industry infrastructure, hence the term “drop-in”. Through a modular, flexible design construction, PetroAlgae enables a near-continuous growing and harvesting process of a wide variety of micro-organisms suited to local climates, ensuring maximum growth rates. The Florida-based company has established first-mover advantage in the micro-crop to fuels industry and offers a path to sustainable and clean energy independence while promoting local job growth.

About Indian Oil Corporation Ltd.

Indian Oil Corporation Ltd. (Indian Oil) is currently India’s largest company by sales with a turnover of Rs. 285,337 crore and profit of Rs. 2,950 crore for fiscal 2008-09. Indian Oil is also the highest ranked Indian company in the prestigious Fortune ‘Global 500’ listing, having moved up 19 places to the
116th position in 2008. It is also the 18th largest petroleum company in the world. Indian Oil’s vision is driven by a group of dynamic leaders who have made it a name to reckon with. The Corporation is celebrating the year 2009 as its golden jubilee year.

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