Indian Oil ponders pond potential

Petroleum company Indian Oil is pondering pond matter as a biofuel.

The company has signed a memorandum of understanding with PetroAlgae to license the latter’s proprietary technology for producing and harvesting algae.

The Florida-based green fuel company has developed bioreactors and harvesting methods for converting algae grown in open-pond freshwater farms into biodiesel.

The first phase of its partnership with Indian Oil will involve building a test facility to see whether PetroAlgae's production method is scalable.

Once that has proven to be successful, Indian Oil plans to build a commercial production facility that could produce 200,000 tpa (tonnes per annum) of biodiesel.

That facility would also produce a protein by-product from the process that could be sold for use in making animal feedstock.

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