Algae Biofuel Pioneer GreenFuel Technology Closes Down

GreenFuel Technologies, one of the earliest, best funded and most publicized algae companies, is shutting its doors, a victim of the credit crunch. "We are closing doors. We are a victim of the economy," said Duncan McIntyre at Polaris Venture Partners, which invested in Greenfuel. Although it has raised millions of dollars and landed a high profile deal with Auranta in Spain to erect test facilities, it could not get money to complete the project. In January, it laid off 19 people, or half of the staff.

The company has also been chronically saddled with delays and technical problems. The company's plan was to pump carbon dioxide from smokestacks into bioreactors – i.e., sealed plastic bags filled with algae and water. The algae would grow fat on the carbon dioxide and later be harvested by GreenFuel to be turned into oil for biodiesel. Protein and other matter from the algae would also be sold to pet food manufacturers.

Bloom Energy Unveils “Miraculous” Micro Power Plant

Bloom Energy claims that its new power plant is capable of producing cheap emission-free energy by combining oxygen with natural gas, propane, biofuels, or diesel. It does this without combustion through a chemical reaction that utilizes stacks of ceramic discs coated with special green and black “ink” interspersed with metal plates made from a cheap alloy. Current commercial units are expected to sell for $700,000 to $800,000, although plans have been announced for a $3,000 home unit down the line.

The Bloom Box may represent a breakthrough in grid-free clean energy, but only if it’s able to cheaply and efficiently produce power with little waste, a difficult proposition. In order for it to be considered a truly “clean” technology the device will also require a steady supply of biofuels. What do you think – will the device live up to its staggering expectations, or is this box powered by hype? Sound off in the comments!


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