Biotech Updates

Industry Survey Shows Brighter Future for Algal Biofuels

March 13, 2013
News article: http://www.biofuelsjournal.com/articles/Algal_Biomass_Organization_Survey_Shows_Steady_Support_For_Algae_Biofuels-130953.html

A survey of more than 470 algae industry contacts conducted in January 2013 by the Algae Biomass Organization (ABO) shows that the industry is expected to increase production for biofuels and other alternative products in 2013 and compete with petrol products by 2020.

According to survey results, 67 percent of algae producers have plans to expand capacity in 2013, and more than 90 percent overall believe that algae-based fuels will likely compete with fossil fuels by 2020. With reference to a question about which algal products will be produced, 28% of producers indicated they are targeting fuels markets, but there are many who also target feeds (35%), nutritional products or nutraceuticals (28%) and fertilizers (18%).

The respondents also noted the role of favorable federal policy in order to accelerate job hiring and production toward a robust industry. The most important policy areas identified include research and development grants, commercialization grants and tax credits/incentives.