Shanghai Jun Ya Yan Technology Development Company has developed an agreement with PetroSun whereby it will provide $40 million (US) for the construction of an algae farm facility inside China and split profits with PetroSun 50/50 in exchange for PetroSun’s propriety technology and expertise.
Along with planned ethanol and biodiesel output, the press release states that the facility will be producing “other commercial products” from the algae. I’m guessing that means livestock feed supplements made from what’s left of algae carcasses after they’ve been squeezed for oil and turned into ethanol — but maybe they have another surprise up their sleeves?
Microalgae have garnered considerable attention, since acre-by-acre microalgae can produce 30-100 times the oil yield of soybeans on marginal land and in brackish water and their carcasses can be turned into other value-added products such as ethanol and livestock feed.
The big problem has been figuring out how to collect and press the algae, and in the case of open ponds, to prevent contamination by invasive species. But PetroSun seems to have figured this problem out due to either “a superior technological approach” or “a redneck can-do attitude,” according to Gordon LeBlanc, CEO of PetroSun.