PetroAlgae Inc., a dynamic alternative energy producer focused on establishing a first-mover advantage in the biofuels sector using a revolutionary continuous harvesting process and a variety of licensed commercial micro-crops, today announced the signing of a memorandum of understanding with Asesorias e Inversiones Quilicura (AIQ) aimed at developing micro-crops in Chile.
The agreement gives AIQ (a major shareholder in the well-known Chilean busing company, Subus Chile S.A.) the option to license PALG’s easily modifiable and modular system that enables a continuous harvesting process of a variety of commercial micro-crops, in order to produce biofuels like “green” gasoline, jet fuel, diesel and even high-value protein on a massive scale
The ability of PALG licensees to employ the technology to easily manufacture large amounts of cost-effective fuels and an extremely useful protein co-product (via a system that allows for continuous harvesting but is also actively sequestering carbon) gives global reach to the Company’s bottom line and a powerful means of sustainable energy production for developing and established economies.
Micro-crops as non-food biofuel sources offer a vast array of benefits over macro-crops in terms of efficiency and overall market impact, and the robust harvesting technology developed by PALG gives Chile, which imports 70% of its fuel, a strong new renewable tool to offset its energy dependence.
Andres De Carcer and Rosi Palma of AIQ commented on the shift of large-scale investment to this new area of energy production, and extolled the benefits of micro-crops and the PALG system, noting in particular how nice it is to have the Company – with its broad experience – to help manage the development of this important step for Chile in “opening a path to sustainable and clean energy independence while promoting local job growth”.
The PALG technology can manipulate light with such precision that micro-crop productivity is greatly enhanced; in this case, a system of open-pond bioreactors with a 2-hour harvesting cycle produces the rich protein base that is currently useable in animal food and has great potential as a future protein base for other foods and the carbohydrate-rich biomass.
This biomass is sent to a standard refinery for fuel production, but is also ideal for closing the energy loop if used in bio-refineries.
Chairman of PALG, Dr. John Scott, acknowledged the move by companies like AIQ into such high efficiency micro-crop systems for producing large amounts of biomass that can be used in existing petroleum-based infrastructure, and proffered up the PALG technology as an ideal and natural solution, indicating that this deal would likely lead to “many such agreements in South America that will continue that region’s path towards a sustainable, clean energy future”.