Algae.Tec and Macquarie Power Group sign landmark algae biofuels pact. What makes this deal different?
To find out more, the Digest spoke with Algae.Tec chairman Roger Stroud
In Australia, Algae.Tec announced this week that it has signed a deal with Australia’s largest power company to site an algae carbon capture and biofuels production facility alongside a 2640MW coal-fired power station near Sydney.
Power company Macquarie Generation will site the Algae.Tec facility next to the Bayswater coal-fired power station in the Hunter Valley NSW, and feed waste carbon dioxide into the enclosed algae growth system.
Macquarie Generation CEO and Managing Director Russell Skelton said: “Carbon is now our single largest cost. This technology should reduce our carbon output, reduce our carbon bill, and at the same time improve our bottom line.”
Bayswater uses approximately 7.5 million tonnes of coal per year and delivers power to eastern Australia, from South Australia to Northern Queensland. It is the centre-piece of the New South Wales energy system.
The algae will feed on “waste” carbon dioxide emitted by the power station and the resulting algal oil is converted to biodiesel and hydrogenated to grade A jet fuel.
Roger Stroud said algae biofuels offers NSW and Australia a new level of fuel security.
“At a time when all the petroleum refining capacity is closing down in NSW, this is the beginning of an era of renewable fuel which can be “grown” in the State and can substitute imported petroleum products,” he said.
The Digest sat down this week with Roger Stroud to talk about the project, the development of algae-based fuels, and Algae.Tec’s progress. We talk about the projects capacity, expansion, cost, feasibility, partners, timelines, and the role of tax and renewables policy in project development. All today via the page links below.
More background on the story from the Digest
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