Algae Crops: Coproduction of Algae Biofuels - Industrial Crops: Breeding for BioEnergy and Bioproducts - page 369

Table 17.1 Recent trends in macroalgae investments
Project and partners Products Description

South Korea National Energy
Ministry

Ethanol Korea—$275 USD million project

over 10 years to produce nearly
400 million gallons a year of
ethanol by 2020. The project will
create an offshore seaweed forest
approximately 86,000 acres in
size

City of Venice JV with Port
Authority and Electric Power
Plant

Algae biofuel for
electric power

Italy—$200 million Euro project
announced in March 2009 by the
city of Venice to capture algae
seaweed and generate 40 MW of
power from algae biofuel. The
project will also cultivate
microalgae in closed
photobioreactors to generate
biomass for power generation

Biomara/Scotland's Ministry of
Energy

Algal biofuels Scotland—$8 million USD from

Scotland's Energy Ministry and
the EU's INTERREG IVA
Programme, and Crown Estate in
April 2009 to investigate sea-
weed and microalgae strains for
commercial scale production

Chilean Economic Development
Corporation (CORFO) and
Bio-Architecture Lab (BAL)

Ethanol Chile—$7 million USD investment

in 2010 in a seaweed-based
bioethanol project lead by
US-based BAL in collaboration
with Chilean oil company ENAP
and the Universidad de Los
Lagos. Project goal is to produce
165 million liters of ethanol

Philippine National Government,
Korean Institute for Industrial
Technology

Ethanol and
biofuels

Philippines—$5 million from the
Philippine government to
develop a 250-acre, seaweed-
based ethanol plant and
aquafarm cluster

Statoil and Bio-Architecture Lab
(BAL)

Ethanol and
coproducts
(lipids, pro-
teins, iodine)

Norway—starting in late 2010,
Statoil will fund BAL's R&D
and demonstrations projects in
Norway. BAL will utilize its
process technology which will
convert seaweed from Statoil's
aquafarming operations into eth-
anol and coproducts

(continued)