Algenol is a global, industrial biotechnology company that is commercializing its patented algae technology platform for production of ethanol and other biofuels. Our patented DIRECT TO ETHANOL® technology enables the production of ethanol for around $1.00 per gallon using sunlight, carbon dioxide and saltwater at production levels above 9,000 gallons of ethanol per acre per year. Algenol’s new commercial target is to exceed 10,000 gallons of ethanol per acre per year. The low production costs are achievable because DIRECT TO ETHANOL® technology produces high yields and relies on our patented photobioreactors and proprietary downstream techniques for the low-cost recovery and purification of ethanol. These novel, low-cost techniques have the added benefit of consuming carbon dioxide from industrial sources, not using farmland or food crops and being able to provide freshwater. One tonne of carbon dioxide (CO2) is converted into 160 gallons of ethanol, and 2 gallons of fresh water are produced for each gallon of ethanol in the DIRECT TO ETHANOL® process.
While ethanol produced using DIRECT TO ETHANOL® technology is itself a valuable transportation fuel, we have also expanded our product portfolio by incorporating conversion technologies to produce diesel and jet fuel from waste algae. Ethanol will be our main commercial product and jet and diesel will be integrated into our process over the next 2 years. We also continue to monitor opportunities to adapt our algae-based platform technology to produce valuable chemicals, such as propylene-based chemicals.