Report Reveals Opportunities In Algae Industry Development
Louisiana Economic Development in partnership with KEMA Inc., an international energy consulting firm, recently released a feasibility report on Louisiana's commercial prospect for algae-to-energy ventures, in response to the growing need for alternative feed stocks in the renewable fuels industry.
The report demonstrates that Louisiana offers several advantages for algae industry development, including abundance of low-cost land, high-quality sunlight, array of CO2 sources, rainfall rate that exceeds evaporation rate, experience with aquaculture, and infrastructure and research capabilities.
"The results of the report confirm that Louisiana is well positioned to serve as the ideal platform for the emerging algae industry," said Kelsey Short, director of agriculture, food and forestry. "Accordingly, LED is actively seeking business development collaborations with algae investors and companies."
Key findings of the report include:
• Louisiana has a potential capacity to produce up to 24.3 million tons of algae, based on existing industrial and power plant CO2 emissions
• Louisiana has a potential capacity of 2.520 billion gallons of oil using existing CO2 resources, based on algae strains with 40% oil content
For more information, visit: www.OpportunityLouisiana.com