BAL Chile opens macroalgae biofuels farm off Chilean coast

September 29, 2011 |

In Chile, BAL Chile SA has begun farming algae on the island of Chiloé with plans to produce biofuels for industrial use. The company hopes to produce algae at commercial scale in the next five years.

BAL has established strategic alliances with DuPont and Statoil for this initiative and has secured financial support from several private equity firms, including X/Seed (US), Capital Austral (Chile), Energy Capital Management (Norway), the US Department of Energy and Innova Corfo (Chile).

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Category: International

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