Subscribe free to our newsletters via your
  Energy News  

Subscribe free to our newsletters via your

Algae-Based Biofuels Annual Production To Reach 61 Million Gallons By 2020

Wheelock adds that with the cost of production still a key obstacle to widespread production, many companies are refocusing production efforts on low-volume, high-value co-products to develop revenue streams over the next decade.
by Staff Writers
Boulder CO (SPX) Nov 04, 2010
In the face of petroleum scarcity, increasing oil prices, market volatility, and climate change, leaders in government and industry are looking to renewable fuel sources such as algae-based biofuels to reduce expenses and mitigate their acute vulnerability to petroleum supply chains.

Yielding 2 to 20 times more oil per acre than leading oilseed crops, algae's productivity and scalability are seen as its greatest advantages, and a number of key industry players are gearing up their operations to meet the opportunity.

Algae biofuels have the added advantage of utilizing non food-based feedstock, with the abilities to grow on non-arable land and utilize a wide variety of water resources including wastewater and seawater.

According to a new report from Pike Research, algae biofuels production will grow rapidly over the next decade, reaching 61 million gallons per year and a market value of $1.3 billion by 2020. While barely a drop in the bucket for biofuels, this represents a compound annual growth rate (CAGR) of 72%, roughly on par with early development in the biodiesel industry.

"On paper, algae could displace worldwide petroleum use altogether, however, the industry has yet to produce a drop of oil for commercial production," says Pike Research president Clint Wheelock.

"Although the algae-based biofuels market will grow rapidly once key cost hurdles are overcome, widespread scale-up will be hampered by a number of difficult challenges including access to nutrients, water, and private capital."

Wheelock adds that with the cost of production still a key obstacle to widespread production, many companies are refocusing production efforts on low-volume, high-value co-products to develop revenue streams over the next decade.

Pike Research anticipates that, with 50% of all algae activity, the United States is poised to ramp up production the earliest among world markets. Pilot- and demonstration-scale facilities are beginning to break ground across the country.

The European Union (EU) market, which is home to about 30% of algae activity, will be limited initially by the industry's focus on university research, and later by insufficient access to water, land, and nutrient sources. Latin America and Asia Pacific, which are home to fewer projects in operation today, are set to gain significant market share in the long run.

Pike Research's study, "Algae-Based Biofuels", examines the key growth drivers behind the algae-based biofuels market and outlines unresolved supply challenges.

It compares advantages and disadvantages of algae production pathways, leading cultivation technologies, and end-market opportunities. The report includes detailed 10-year market forecasts, segmented by world region, along with analysis of market conditions in key countries and profiles of key industry players that are shaping the emerging algae biofuels business.

Share This Article With Planet Earth DiggDigg RedditReddit
YahooMyWebYahooMyWeb GoogleGoogle FacebookFacebook

Related Links
Pike Research
Bio Fuel Technology and Application News

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Natural Power Set To Turn Up The Heat In Biomass Sector
Dalry, UK (SPX) Nov 03, 2010
Leading international renewable energy consultancy Natural Power has announced the company's move in to the biomass sector, further adding to their global products and services provided in the wind, wave and tidal markets. A dedicated team of experienced professionals across the biomass and associated industries have joined Natural Power's renewable energy experts at their global headquart ... read more

Evergreen Solar Shows Strong Commitment In Czech Republic

KYOCERA Solar Modules At Desert Knowledge Australia

Alcatel-Lucent To Host Solar Power System For Bell Labs Global HQ

30MW Solar Power Plant To Be Built In Colorado

South Korea plans offshore wind project

Buoyant Times Ahead For Offshore Resource Assessments

Suzlon eyes China's wind power market

Offshore Wind A Mixed Bag

China-Japan 'ship collision video' leaked on YouTube

Outlook improves for two large southern Iraq oilfields: SOC

China-Japan 'ship collision video' leaked on YouTube

Iran cuts into Israel-Lebanon gas dispute

Californians reject proposal to repeal greenhouse gas law

Scarcity Of New Energy Minerals Will Trigger Trade Wars

Wheeled Snow Shovel Is Potent Green Alternative To Belching Snow Blowers

Green Carbon Center Takes All-Inclusive View Of Energy

12 dead in 41-vehicle pile up in China

China says its car boom is ruining air quality

Fiat, Toyota 'years ahead' of EU emissions targets: research

GM first foreign carmaker to sell two million units in China

Indigenous Colombians shun turtle meat to save dying species

How Lead Gets Into Urban Vegetable Gardens

Paradise Lost And Found At Ramat

Large-Scale Fish Farm Production Offsets Environmental Gains

NIST Backs Proposal For A Revamped System Of Measurement Units

Software Brings Facial-Recognition Technology To Mobile Phones

From Touchpad To Thought-Pad

Samsung aims to sell 1 million Galaxy Tabs by year's end

The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement