A San Francisco-based start-up, Solazyme Inc, has been selected to develop the world’s first 100 percent algae-derived fuel for use in jets and Navy ships.
Launched in a garage in 2003, Solazyme is working to reduce the cost of green fuels. The Solazyme research team produces natural oils from algae through fermentation as a basis for renewable fuels. The oils and bio-materials are used as fuels or replacements for fossil-derived petroleum and a variety of other natural plant oils and compounds used in everything from cosmetics to foods.
Solazyme has completed a lot of the preliminary work on developing the green fuels and is now working on creating a large scale production process. The green fuel firm is now hunting for a partner to set up a factory for large scale production. Solazyme is working to get the cost of the fuel to a range of about $60 to $80 per barrel and have a production facility online by 2012.