Algenol opens headquarters in Florida

October 6, 2008

BY Erin Krueger

Web exclusive posted Oct. 31, 2008 at 9:25 a.m. CST

Florida-based Algenol Biofuels Inc. announced Oct. 27 it has officially opened the company's U.S. headquarters in Naples, Fla. The new headquarters will house Algenol's development and executive teams. Algenol also has offices in Baltimore, Md., and Palm Beach County, Fla.

The company has developed a technology, trademarked as Direct to Ethanol, which uses algae, sunlight, carbon dioxide and seawater to produce ethanol. During the process, each algae cell acts as a tiny ethanol factory. Sugar is produced through photosynthesis and immediately converted into ethanol.

Algenol's first commercial-scale facility will be located in Mexico. It's estimated that the 102,000-acre facility will produce 1 billion gallons of ethanol annually. The project is scheduled to break ground in late 2008 or early 2009. Commercial sales of ethanol are expected to begin in 2009.

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