Algenol travels to China on business development mission

Algenol has joined the US Secretary of Energy, Ernest Moniz, and the US Secretary of Commerce, Penny Pritzker, on a business development mission to China.

Algenol joins a team which also includes the likes of GE, Southern Company, Honeywell, Praxair, Alcoa and Lockheed Martin.

'The companies selected [...] are key reminders that, through world class innovation of US companies, we can decrease emissions while creating economic opportunities,' says Secretary Moniz.

Algenol's goal for this mission is to offer Chinese government officials and private businesses solutions for reducing carbon emissions by recycling man-made carbon dioxide (CO2) generated from carbon intense industries. The company's technology utilises its patented algae platform to consume CO2 from industrial emissions and produce ethanol, petrol, diesel and jet fuel.

Algenol says that the application of its technology would provide China with considerable quantities of low-price, domestically-produced renewable fuels and support the nation's goal of reducing carbon emissions. Its fuels are independently certified by the US Environmental Protection Agency to have a 69% reduction in carbon footprint compared to petrol and diesel.

Speaking about the China mission, CEO Paul Woods says: 'Carbon pollution is a global issue and Algenol is one viable solution that can help China, and other countries, by converting industrial waste CO2 into green fuels, while simultaneously producing fresh water for their citizens.'

 

SOURCE: Algenol