Author: Carrie Cox

This month ABO welcomes Algix, a leading innovator in algae-based plastics and foams and harvesting technologies. Algix has joined ABO as a bronze-level member.

Algix is well-known for being behind the algae-based BLOOM line of sustainable materials used to make everything from shoes, backpacks, and other items. Founded in 2010, Algix has experienced remarkable growth and their products are being incorporated into some of the world’s leading brands.

Just recently, actor Jason Momoa announced a partnership with Los Angeles-based climbing brand So iLL on a line of footwear that is made with BLOOM foam and other sustainable materials.

Algix has also partnered with ABO member AECOM on projects that are seeking ways to harvest wild algae from waterways that are suffering the effects of harmful algal blooms (HABs). These novel methods may open an new pathway for communities looking to find solutions to HABS that can reduce their harmful economic and ecological impacts.

Welcome Algix!

Every five years the U.S. Department of Agriculture (USDA) surveys all farmers and ranchers for production, sales, labor, land use and other information to inform national and state programs that benefit U.S. agriculture. Your voice as algae producers matters – be counted in the 2022 Census of Agriculture.

Participation in the Census shows Congress, state and local governments and federal and state agencies that algae production is a growing, diverse and vibrant economic force important to rural communities, and importantly, includes both seaweed and microalgae. In order for U.S. algae production to gain additional traction in agriculture programs at the federal or state levels, legislators and federal and state agencies representatives need to understand the scope and breadth of U.S. algae production. And the jobs and income created and sustained by rural, urban and coastal farms.
 
All farm specific data is held confidential, is NOT shared with other agencies and is protected by criminal statutes.
 
Please support and strengthen U.S. algae production by promoting participation in this important Census.

There will be a follow-up Census of Aquaculture that reports information specific to aquaculture like species farmed, production quantity and value, water sources, production systems, submerged land leases for shellfish production and state-by-state production statistics. If you qualify to participate in that census, please do so!

Take the survey

This month the Treasury Department and the Internal Revenue Service issued the final rules about the section 45Q tax credit that can incentivize projects that capture and sequester carbon dioxide. ABO has been an advocate for the credit, and the new rule may open the door for algae production projects to apply.

“These final regulations provide taxpayers and the American energy sector with needed clarity on utilizing the section 45Q credit,” said Treasury Secretary Steven T. Mnuchin. “These regulations are an essential step toward harnessing the entrepreneurial spirit of Americans to further modernize the American energy sector, while ensuring American energy producers maintain their competitive edge around the world.”

The credit may also have applications beyond the energy sector, since projects that sequester carbon via direct air capture can qualify as well.

Additionally, while the final regulations are similar to the preliminary rules issued in March 2020, they also include provisions that allow smaller projects to take advantage of the tax credit.

Other resources:

• The Treasury’s press release about the final rule
• ABO’s take on the preliminary rules issues in March, 2020