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Genesis Biofuel, Inc. announces joint venture

World Cement,

Genesis Biofuel, Inc. has signed a memorandum of understanding with Abundant Energy Solutions (AES), to form a joint venture to engineer and construct algal biofuel refineries. In cement plants, Genesis Biofuel, Inc. captures CO2 in order reduce emissions. Genesis refineries use these gases to produce algal biofuel, which can be used in diesel engines and as the biomass in ethanol production. AES, which develops scientific solutions with regards to energy production, distribution and utilisation, is an affiliate of Colorado Energy Research Technologies. The venture will enable the two firms to combine their technologies in alternative energy production and provide solutions for a range of industries.

In their first move as a joint venture, the companies will complete their Demonstration Laboratory in AES’s research facility in Colorado, US. There are plans to construct a pilot facility at a cement plant in 1Q13.

“We are delighted to be working with Abundant Energy Solutions. AES’s proven technologies in algae lighting, harvesting and oil extraction solutions, working with our processes, will tremendously increase and augment our overall output and efficiency. In addition, our combined technologies will enable us to offer solutions to additional algal to biofuel alternatives such as utilising waste water,” said Harvey A. Dorren, President & CEO of Genesis Biofuel, Inc.

Adapted from press release by Louise Fordham.

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