The 36-acre facility will bring together Algenol’s capabilities in molecular biology, aquaculture, green chemistry, carbon capture and engineering for the development and commercialization of technologies for biofuels and green chemical production.

By building the Integrated Bio-Refinery next to its laboratories, Algenol expects to reduce the costs and accelerate commercialization of advanced biofuels technology with support from the US Department of Energy (DOE), the Lee County Commission and Algenol’s strategic partners.

The bio-refinery is anticipated to create at least 120 new jobs and bring millions of dollars of additional capital investment to Lee County.

Algenol Biofuels founder and CEO Paul Woods said that the company is quite excited to build and operate its Integrated Bio-Refinery in Lee County, and looks forward to demonstrating technology that will enhance the energy security of Florida and the US.

"Having our Integrated Bio-Refinery and research laboratories all on one site will facilitate collaboration among our scientists and engineers and those of our partners," Woods said.