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NTR enters algae biofuels market with joint venture |
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Written by Giles Clark, London
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Wednesday, 19 November 2008 |
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A joint venture to carry out research and development in to the commercialisation of algae production for biofuel use has been unveilled today (19th November) by NTR plc. The company, together with its North American based ethanol business, Green Plains Renewable Energy, Inc, CLARCOR Inc. and BioProcessH20 will develop the research to look at the next generation of biofuel feedstocks.
Commenting on the joint venture, Jim Barry, Chief Executive, NTR plc said: "While it is at a formative stage, we see this venture as being an important commitment on our part to advancing understanding of the possibilities of commercial production of algae as an alternative biofuel and as a carbon sequestration agent." "By partnering with Green Plains, we will fast-track our plans for the development of an industrial-scale solution for continuous algae production," said Tim Burns, President of BioProcessH2O. "The modular system will be designed for use in ethanol and other industries that emit carbon dioxide." |
