Algae Biomass Organization Applauds Department of Energy’s Awards of $18 Million to Develop Bioproducts and Biofuels from Algae

July, 10 / 2015

WASHINGTON, DC (July 10, 2015) The Algae Biomass Organization, the trade association for the algae industry, applauded the Department of Energy today for awarding six algae technology projects with awards totaling up to $18 million to advance the agency’s goal to reduce the price of algae-based biofuels to $5 per gallon gasoline equivalent by 2019.

“We are grateful for the Department of Energy’s ongoing effort to accelerate algae technologies that can become new sources of sustainable fuels and other products,” said Matt Carr, Executive Director of the Algae Biomass Organization. “The potential of algae technologies underscores the importance of the Department of Energy’s support. All of these projects are developing systems that can use carbon dioxide as a feedstock for high value products, simultaneously reducing greenhouse gases while providing new jobs and revenue for a number of industries.”

The DOE’s funding will advance technologies in algae harvesting, cultivation and processing that can be used to produce fuels as well as other products that include feeds and biochemicals. The selected projects include: Producing Algae and Co-Products for Energy (PACE), Colorado School of Mines, Golden, CO; Marine Algae Industrialization Consortium (MAGIC), Duke University, Durham, NC; Global Algae Innovations, Inc., El Cajon, CA; Arizona State University, Mesa, AZ; University of California, San Diego, San Diego, CA; Lawrence Livermore National Laboratory, Livermore, CA.

Products made from algae are the natural solution to the energy, food, economic and climate challenges facing the world today. This tiny but powerful organism has the ability to simultaneously put fuels in vehicles, reuse CO2, provide nutrition for animals and people, and create jobs for millions of Americans. More information can be found at www.allaboutalgae.com.

About the Algae Biomass Organization
The Algae Biomass Organization (ABO) is a 501 c(6) non-profit whose mission is to promote the development of viable commercial markets for renewable and sustainable commodities derived from algae. Its membership is comprised of people, companies, and organizations across the value chain. More information about ABO, including its leadership, membership, costs, benefits, and members and their affiliations, is available at the website: www.algaebiomass.org.