Consumers Show the Love for Algae Biofuel
Last November was the first time algae-derived biofuels were made available to consumers, and everybody wanted to know what drivers would think of the fuel, and if they would actually buy it. Today we have some answers.
Renewable fuel retailer Propel Fuels and Solazyme, Inc. today released sales and survey results for a 30-day trial program that offered algae-derived biodiesel blends at Propel pumps in California. It was the first time drivers had the chance to fill up with fuels made from algae and the numbers are pretty strong.
- 92 percent of participants noted that they would be more likely to purchase algae-derived fuel for its environmental benefits.
- 70 percent indicated that they would purchase the fuel more frequently if it were derived from algae.
- Nearly 40 percent of customers indicated they would pay a premium for algae-derived fuel.
That’s how customers felt about algae-derived fuel, but perhaps even more impressive is what they actually did. The sales data show a 35 percent volume increase at Propel stations offering the algae-derived fuel over area sites not participating in the pilot.
That’s not bad for algae’s first trip to the market!
Today’s press release announcing the survey has more details, including some helpful information about the environmental benefits of Solazyme’s product.
Benefits of Membership
- A voice on ABO policy initiatives.
- Access to members-only resources.
- Discounted pricing to ABO events, and more!