Algae hold great promise in the near term to fundamentally change America’s energy portfolio, sequester or convert atmospheric CO2 into market-ready products, and help grow our economy through the creation of tens of thousands of well-paying green-collar jobs. Algae-based jobs include:
Based on a survey conducted by the Algae Biomass Organization in January of 2010 with 52 reporting companies, a likely estimation of job growth is shown in the chart below as Scenario 1. In addition, based on the same survey, with the addition of regulatory and legislative parity in the US, accelerated job growth could occur as estimated Scenario 2.
Algae-based products and processes:
- Can replace a significant percentage of America’s petroleum-based liquid transportation fuel, including jet fuel, gasoline and diesel, using photosynthetic and non-photosynthetic processes;
- Are domestically produced and renewable;
- Consume enormous amounts of CO2, and biologically sequester or beneficially reuse/convert atmospheric and industrial CO2into marketable products;
- Can be grown in non-potable water, on non-agricultural land (thereby avoiding indirect land use issues).
- Will be commercially produced in the near-term; low-carbon, drop-in transportation fuels will be produced by ABO members within two years.
- Can provide value-added co-products, including nutraceuticals, animal feed, cosmetics, plastics and other bio-based products, while also creating renewable, sustainable fuels.