Emerging global markets : Carbon capture for profit!
The Department of Energy recently granted just over $30 million to support carbon capturing for the production of biofuel from algae and to reduce our carbon emissions. This trend, being shaped by private and public investments, shows us what the next emerging global market will be: carbon capturing for profit! Governments from around the world are now utilizing new technology and proper methods of carbon capturing to produce biofuel. In the next five years, we will see major news headlines praising this technology. This industry transformation will add to our growing global economy, create thousands upon thousands of jobs around the world, and make a sizable dent in America’s dependence on foreign oil. The concept of turning CO2 into oil is very promising and should be followed closely. With technology and engineering advancing at a rapid pace, it is only a matter of time until we see the right technologies integrate with one another. Once the right technologies are integrated, the technology and its owners will be on the fast track to success.
Below are two companies with high hopes to be industry leaders in carbon capturing and that have just received funding from the Department of Energy:
Touchstone Research Laboratory (W. Va.)𠅍OE Share: $6,239,542. This project will pilot-test an open-pond algae production technology that can capture at least 60 percent of flue gas CO2 from an industrial coal-fired source to produce biofuel and other high-value co-products. A novel phase change material incorporated in Touchstone’s technology will cover the algae pond surface to regulate daily temperature, reduce evaporation, and control the infiltration of invasive species. Lipids extracted from harvested algae will be converted to a bio-fuel, and an anaerobic digestion process will be developed and tested for converting residual biomass into methane. The host site for the pilot project is Cedar Lane Farms in Wooster, Ohio.
Phycal (Highland Heights, Ohio)𠅍OE Share: $24,243,509. Phycal will complete development of an integrated system designed to produce liquid biocrude fuel from micro algae cultivated with captured CO2. The algal biocrude can be blended with other fuels for power generation, or processed into a variety of renewable drop-in replacement fuels, such as jet fuel and biodiesel. Phycal will design, build, and operate a CO2-to-algae-to-biofuels facility at a nominal thirty-acre site in Central O’ahu (near Wahiawa and Kapolei), Hawaii. Hawaii Electric Company will qualify the biocrude for boiler use, and Tesoro will supply CO2 and evaluate fuel production.
Check out my other blog posts on MBD Energy and Origin Oil. I believe these two companies have successfully integrated their technologies and are on the fast track to success!
Feel free to leave a comment; if you know of any other developments in this industry, please post. Thank you, and happy blogging!