On August 1, the US Energy Department announced $16.5 million in grant funding to four groups focused on producing fuels from algae. Hawaii BioEnergy, New Mexico State University and ABO member Sapphire Energy each received $5 million, with California Polytechnic State University receiving $1.5 million.
These investments reinforce the promise of algae technology to help the Energy Department achieve its stated commitment of producing cost competitive algae biofuels by 2022.
“By partnering with industry and universities, we can help make clean, renewable biofuels cost-competitive with gasoline, give drivers more options at the pump and cut harmful carbon pollution,” said Energy Secretary Ernest Moniz.
The administration’s support further emphasizes how important advanced biofuels derived from sustainable sources like algae are for our energy security, economic growth and environment.
You can read the full announcement from the Energy Department here.