Algenol to Open New Facility in Florida
Algenol, an algae biofuel company focusing on producing ethanol from algae, has announced a success partnership with Lee County in Florida to build a new facility.
Algenol Biofuels Inc. today announced that the company has reached an agreement with the Lee County Board of Commissioners to support the opening of a new 43,000 square foot facility in Lee County, bringing economic diversity and jobs to the area launching in the first quarter of 2010.
The $10 million grant is an investment that can bring numerous opportunities in the burgeoning biofuels industry to the region as Algenol continues the development and expansion of its unique Direct to Ethanol® process to produce low-cost ethanol and green chemicals from algae, sunlight, saltwater, and carbon dioxide.
“We are very pleased the Lee County Commission is making it possible for Algenol, a Bonita Springs-based company, to significantly expand its local presence and continue our work to lessen our dependence on foreign oil, develop a solution for carbon pollution related issues, while bringing jobs to the area. We are very proud to be partners with Lee County and we are thankful for the extraordinary efforts of Commission Chairperson Tammy Hall, Commissioner Ray Judah, and Commissioner Bob Janes,” said Paul Woods, CEO and founder of Algenol Biofuels.
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The facility will house Algenol’s advanced biology and engineering laboratories, operations and 40 acres of land that will hold the company’s unique photobioreactors – the containers that generate the ethanol from algae, saltwater and carbon dioxide. In addition to producing low-cost ethanol, Algenol is beginning to work on related projects, such as using its ethanol and other green chemicals as a replacement for petroleum in plastic building blocks. This new facet of the business will also be housed at the Lee County facility.
This partnership illustrates that communities are willing to bet their future economic success, a signal that many are taking algae biofuels seriously. Overall, good news for Algenol and good news for the algae buiofuel field.
