30 November, 2009
Endicott Biofuels and TransAlgae, Ltd today (30th November) signed a Memorandum of Understanding for the development of algae as a potential transportation fuel and renewable chemical feedstock source. Endicott sees the potential link with TransAlgae as an natural extesion of its previous work on biodiesel. The company has, it says, already and believes the same technology can be used to yield high-quality, algae-based biodiesel with no modification to its technology platform.
Commenting on the MoU Endicott Chief Executive Officer David Robinson explained that, TransAlgae's strategy is consistent with Endicott's goal to create economically sustainable new sources of energy through the development of renewable biofuels. "We look forward to working with the TransAlgae team, who represent great expertise and experience, to rapidly advance the scale-up and commercialization of algae biofuels production as a high-quality, sustainable fuel source," he said.
"We believe that genetically modified algae provides the best, large-scale, sustainable solution to the multiple resource limitations the global economy is experiencing, providing high-quality alternatives to fossil fuels, petro-chemicals and protein sources without impacting arable land and water," said Dr. Noam Gressel, Co-Founder and Board Member of TransAlgae. "Well designed algal crops can fix carbon dioxide emissions into biological molecules, such as carbohydrates, protein and oil, enabling waste carbon dioxide (CO2) producers to turn a cost into a revenue stream."
A recent draft of the National Algal Biofuels Technology Roadmap developed by the US Department of Energy states: "...In the longer term, biofuels derived from algae represent an opportunity to dramatically impact the U.S. energy supply for transportation fuels. The cultivation of algae at a commercial scale could provide sufficient fuel feedstock to meet the transportation fuels needs of the entire United States, while being completely compatible with the existing transportation fuel infrastructure (refining, distribution, and utilization)."
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