Washington, DC - The U.S. Department of Energy announced today the investment of up to $24 million for three research groups to tackle key hurdles in the commercialization of algae-based biofuels. The selections will support the development of a clean, sustainable transportation sector - a goal of the Department's continued effort to spur the creation of the domestic bio-industry while creating jobs. Developing cost-effective renewable transportation fuels is a key component of the Administration's strategy to cut greenhouse gas emissions and move the Nation toward energy independence.

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Advantages of Biodiesel from Algae oil:

♦  Rapid growth rates 
♦  High per-acre yield (7 to 31 times greater than the next best crop - palm oil)
♦  Certain species of algae can be harvested daily
♦  Algae biofuel contains no sulphur
♦  Algae biofuel is non-toxic
♦  Algae biofuel is highly bio-degradable
♦  Algae consume carbon dioxide as they grow, so they could be used to capture CO2 from power stations and other industrial plant that would otherwise go into the atmosphere