Algenol LLC Kills Plans for $500 Million Algae Farm and Ethanol Plant in Florida

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Researched by Industrial Info Resources (Sugar Land, Texas)--Global industrial biotechnology company Algenol LLC (Bonita Springs, Florida) has announced that they have killed plans to develop a massive $500 million algae farm and ethanol production plant in Florida.

The company's CEO, Paul Woods, is blaming Florida Governor Rick Scott, who signed a bill that requires all gasoline sold in the state contain only 10% ethanol blends. The company is looking to pull out of Florida completely.

The plan was to develop 500 acres of sun-rich South Florida into a massive algae farm, involving multiple bioreactors that use salt water, CO2 and sunlight to produce algae feedstocks. The algae would be converted to ethanol by using fermentation technology, along with enzymes, to produce 3 million gallons per year of the renewable fuel.

The company has already proven the technology, in a $200 million lab and pilot facility, and had hopes of going commercial-scale near the existing lab, which is just south of Fort Myers. Now the company is looking at other states that support the use of E15, a 15% blend of ethanol in gasoline. They are focusing on South Texas, Arizona and New Mexico.

A large commercial-scale operation is estimated to create about 2,000 jobs. No timetable was given as to when the company expects to make a decision on the new location.

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