Aug 31 2010
Oilfox S.A. has recently opened a factory in Argentina for making biodiesel from algae. The company is hoping to make use of pond scum towards replacing soy in the making of biodiesel. This forms a part of the company’s drive towards renewable energy usage.
Argentina is currently the largest exporter of soyoil in the world, but using this edible oil for making fuel is turning out to be controversial since it cuts into the food supplies. Oil that is extracted from algae is an ideal alternative to soyoil as well as other vegetable oils since it absorbs CO2 from factories or power plants. The process of oil extraction generates a protein-rich, edible paste.
The feedstock of the Oilfox plant is 90% soyoil and 10% algae oil, however Oilfox is hoping to depend completely on algae eventually since its growth is possible even in contaminated water and seawater as well. During the process of photosynthesis, algae produce unique green oil. Algal BioMASS Association has opined that algae grow very fast and are capable of duplicating its weight several times in a day. Meanwhile, Exxon Mobil has announced an investment of $600 million towards developing biofuel from algae.
Source: http://www.corp.exxonmobil.com/corporate/