The plant will utilize high-yield oil-rich algae strains that Seambiotic has developed and grown in its open pond system coupled with Inventure’s proprietary conversion processes to produce ethanol, biodiesel and other value-added chemicals.
Mark Tegen, Inventure’s CEO and co-founder, said: This is a milestone for Inventure, and for the next generation of biofuels. Seambiotic has been extremely successful in its algae-based CO2 sequestering project with Israeli Electric Corporation, which proves the viability of their model. Combining their algae production technology with our algae to biofuel conversion process will close the loop.
