65 percent of algae producers to expand capacity in 2012

In Washington, 65 percent of algae producers said they plan to expand capacity in 2012, according to a new survey from the Algal Biomass Organization.

The survey found that respondents were  optimistic that algae biofuels will be commercially available and competitive with fossil fuels by 2020, with 90 percent believing that it is at least somewhat likely, and nearly 70 percent believing it is moderately to extremely likely. Nearly 20 percent believe fuel will be $1.50 per gallon or lower while nearly 50 percent believe it will be less than $3.00 per gallon by 2020.

More than 88 percent of respondents said they agree that supportive policy would accelerate the industry’s development, and 81 percent said it was likely that their company would accelerate hiring with supportive policy.