Algae biofuels start-up space triples as pilot projects get underway
The number of algae biofuels start-up companies more than tripled between 2005 and 2009, leading to a sharp rise in the number of pilot and commercial-scale facility projects, according to new research. Before 2000, there were roughly ten companies around the world pursuing the development of algae biofuels as their sole business area or in relation to other business operations such as algae production or renewable fuels. By 2009, the number of companies involved in the development and implementation of algae biofuels technologies had grown to more than 60 worldwide, the Algae Biofuels Production Technologies Worldwide report said. In addition, involvement in the algae biofuels industry as a whole increased by 550 per cent between 2005 and 2007, fuelled by environmental concerns and high crude oil prices. Robert Eckard, analyst at SBI Energy and author of the report said algae can be cultivated and harvested in support of a wide array of biofuel products. ‘In addition,