Last update: 23.12.2010
Algenol partners with Valero Services on algae to ethanol
Source : greencarcongress.com
Algenol Biofuels Inc., and algae-to-ethanol company, and Valero Services, Inc., a subsidiary of Valero Energy Corporation, have entered a joint development agreement to explore combining Algenol’s Direct to Ethanol technology with Valero’s expertise in technology and infrastructure for production and distribution of transportation fuels and chemicals. If successful, says Algenol, this collaboration has the potential of resulting in joint venture, commercial scale algae-based facilities and off-take arrangements with a global reach. Valero Energy Corporation is North America’s largest independent petroleum refiner and marketer, with 15 refineries and ten ethanol plants. Algenol Biofuels Inc. is a privately owned company founded in 2006. It recently made a series of announcements including the award of a $25 million grant from the Department of Energy as part of the American Recovery and Reinvestment Act, to build a facility in concert with its partner on the project, The Dow Chemical Company.
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6 May 2010 |
United States & Canada
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