Background
Microalgae (a form of biomass) can produce high yields of oil that can be refined into transport fuels such as diesel and jet fuel. The advantages of microalgae biofuels over conventional agricultural biofuels are that they can:
- Produce higher yields of oil per hectare of land;
- Do not require arable land or freshwater to grow and so do not compete with food crops;
- Produce a higher-quality fuel product (a vegetable oil)
The Challenge
We launched the Algae Biofuels Challenge in October 2008. The Challenge is based on a Research & Development investment strategy that we think could help make low cost algae biofuels a commercial reality by 2020. The 2 phases of this initiative are:
- Address fundamental Research & Development challenges
- Pilot scale demonstration of algal oil production
The total programme cost is expected to be in the region of £20m-30m. We will probably provide the majority of this funding, with the remainder provided by strategically aligned commercial partners.
The call for Expressions of Interest (EoIs) for Phase 1 of the ABC closed in December 2008. We received 81 EOIs and invited 21 of these to submit full applications. These are currently being reviewed to progress to commercial negotiation and will be announced when fully signed to contracts.
If you would like to be added to our interests list please email directed.research@carbontrust.co.uk