Hawaiian Electric cancels contract with Phycal after companies fails to get online

In Hawaii, Hawaiian Electric has canceled its 150,000 gallon algae biodiesel purchase contract from Phycal following the company’s failure to secure funding to start production. The company has won a tender to supply locally produced biodiesel to the utility in 2010. The contract was canceled in May 2014 but the end of the agreement was just announced this week. The $65 million project was meant to break ground in 2012 and eventually supply 3 million gallons of fuel to the utility.