Algae Biofuels Will Be A “Mainstream Commodity” By 2020
According to a new report set to be released early next month, algae biofuels should be very common and commercially sold on the market by the year 2020.
With algae-based biodiesel pilot and demonstration projects due to be launched in 2010, Houston-based biofuels analyst Will Thurmond predicts the first large- scale algae production destined for the U.S. Department of Defense will begin in 2011 and the first commercial-scale algae biodiesel production will start the following year. “It will be expensive at first,” Thurmond said during a recent webinar summarizing his soon-to-be published algae report, which is titled “Algae 2020: Next Generation Biofuels Markets and Commercialization Outlook” and is due out in late March.
“There is a lot of hype around algae,” Thurmond admitted, but after discussion with experts and surveys of many companies, he projects algae production to begin scaling up to commercial levels between 2013 and 2015, with the cost dropping and market share rising and, by 2020, “I expect algae will become a mainstream commodity for biodiesel, bio crude and ethanol.”
Not too long now.
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