A Fort Myers company is putting its environmentally-friendly fuel on the market for Floridians. Algenol Biofuels is first to patent ethanol made from algae. It’s been developing this product for nine years.
Algenol’s fuel leaves 69 percent less of a carbon footprint than regular gasoline. It’s also cheaper-- at $1.30 per gallon. The company heats up carbon dioxide-filled algae, using sunlight. And through photosynthesis, it converts that carbon into the four most important fuels: ethanol, gasoline, jet fuel and diesel. The only bi-product of this is freshwater.
“We have a really advanced technology that could make a very, very big difference in climate change and carbon emissions," said Paul Woods, founder of Algenol Biofuels.
He’s recently partnered with Protec Fuel, another Florida-based company, to commercially distribute his products around the state. Woods said Algenol will open its first commercial facility in Central Florida between the end of next year and early 2017. He also plans to announce international partnerships in China, India and the Middle-east.