Current forecasts predict that 70 billion litres per year of fossil fuels could be displaced by algae biofuels worldwide in road transport and aviation, by 2030 - this equates to a market value of over £15 billion. The Carbon Trust has also conducted lifecycle analysis of algae biofuel that indicates that carbon savings of up to 80% may be possible in the long term.
Our early investigations during 2007 and 2008 indicated that the most commercially viable and sustainable route to produce algae biofuels is to focus on farming algae in mixed shallow salt/brackish water open ponds (or ‘raceways’). Our ongoing research is focused on increasing the oil yield from selected algae species and in reducing the costs of harvesting this oil.
We intend to use the results of this research to improve our operational knowledge of how to design, build and operate the facilities needed to produce algae oil commercially. We are currently looking for partners to assist us in developing a test and demonstration facility in a suitable location.