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Oil Majors Set To Lose $490 Billion If OPEC Talks Fail

Oil Majors Set To Lose $490 Billion If OPEC Talks Fail

With the official OPEC meeting…

Asian Crude Markets On Edge As OPEC Meets

Asian Crude Markets On Edge As OPEC Meets

While OPEC infighting continues in…

Chilean Company Farming Algae for Future Production of Bio-Fuels

BAL Chile SA is currently farming algae on Chiloé Island eventually to produce bio-fuels for industrial use.

BAL Chile SA CEO Benjamin González said, “Within the next five years we expect to be producing at commercial scale. At present, BAL is developing algae farming on the island of Chiloé and we are looking for alternatives to expand our testing in the north. There has been significant algae productivity improvements and cost reductions,” adding that by 2013 “the company expects to achieve the necessary production parameters for the commercial viability of the production of carbohydrates based on seaweed aquaculture farming.”

As macro-algae grow in the water, they do not have lignin, a compound in which plants tend to store sugars and that makes bio-disposition difficult but González noted of his company’s efforts, ”This, together with the enzymes produced by the microbes developed by BAL, makes entry easier and more economical to these sugars,” Mercopress reported.

According to González, BAL has partnered with U.S. firm DuPont and Norway’s Statoil to proceed, while garnering fiscal underwriting from various global private equity firms, including X/Seed (California), Chioe’s  Capital Austral, Norway’s Energy Capital Management, the U.S. Department of Energy and Chilean firm Innova Corfo.

By. Charles Kennedy, Deputy Editor OilPrice.com



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