GreenFuel Technologies Corporation

GreenFuel Technologies Corporation (GFT) is a startup that has developed a process of growing algae using emissions from fossil fuel combustion and solar panels, mainly to produce biofuel from algae.

It is based in Cambridge, Massachusetts.

History

The GFT President, Chief Technology Officer and the inventor of a newly patented system for growing pollution-digesting algae inexpensively on an industrial scale is Isaac Berzin, who founded the company in April, 2001. Time Magazine included Berzin in its list of the 100 most influential people in the world in 2008. [citeweb | url=http://cleantech-israel.blogspot.com/2008/05/isaac-berzin-israels-green-giant.html | title=Isaac Berzin, Israel's "Green Giant" | accessdate=2008-05-19 | date=2008-05-18 | publisher= Cleantech Investing in Israel]

A beta emission reduction system was installed at an MIT cogeneration facility in 2004 and after performing beyond expectations was moved to a larger power plant in fall 2005. Other projects exist in Arizona, Massachusetts and New York. Although the algal biomass produced by the process consists of proteins, lipids and carbohydrates which could be used to produce a variety of products, GFT seems to be focusing on biofuel products. GreenFuel's large scale algae to biofuel process at the Arizona Public Service Redhawk power facility won the 2006 Platts Emissions Energy Project of the Year Award [ [http://www.platts.com/GEAWeb/resources/jsp/winners2006.jsp Platts 2006 Global Energy Awards ] ]

Arizona Public Service Company (APS) and its partner GreenFuel Technologies will attempt to replicate their success of creating biofuels from algae grown using carbon dioxide (CO2) emissions from a power plant.

Principal Investors

* Access Private Equity
* Draper Fisher Jurvetson
* Polaris Venture Partners

Technology

Known as Emissions-to-Biofuels^TM, the process could use a photosynthetic bioreactor supplied with exhaust gases from a fossil fuel combustion source to grow algae. As smokestack emissions are delivered to the algae bioreactor, carbon dioxide and other pollutants are absorbed and utilized by the algae to grow at an exponential rate. Once harvested, the algae is processed to produce a variety of solids such as protein and bioplastics, gases such as methane, and biofuels such as ethanol and biodiesel.

In July 2007 the company laid off half of its employees and changed the CEO, amidst setbacks in its Arizona facility [ [http://news.com.com/2100-11392-6194622.html?tag=yt Bob Metcalfe takes helm of biofuel company | CNET News.com ] ] . Furthermore, its South African licensee, DeBeers (no relation to the diamond conglomerate) has been exposed as a scam by the investigative TV program Carte Blanche. [ [http://www.engineeringnews.co.za/article.php?a_id=106770 Investigative Carte Blanche casts doubt on De Beers Fuel ] ] . Popular critics of GreenFuel's process advocate for the use of open-air ponds and challenge the economics behind GreenFuel's system [ [http://money.cnn.com/2008/04/14/technology/perfect_fuel.fortune/index2.htm The search for the perfect fuel (cont.) - Apr. 22, 2008 ] ] . In response, GreenFuel has released key facts and figures regarding their performance at the APS Redhawk facility [http://www.greenfuelonline.com/gf_files/Performance%20Summary%20Report.pdf] and have released a detailed FAQ section about the viability of algae as an energy crop as well as the economic strategy behind the company's technology [ [http://www.greenfuelonline.com/contact_faq.html GreenFuel Technologies Corporation: Frequently Asked Questions ] ]

Application

Sources of carbon rich exhaust include manufacturing facilities and electricity generation plants, especially those which burn coal. Once the algal biomass is harvested and processed, the resulting fuel may be sold for additional revenue or utilized on-site.

Benefits

The biofuel yield using the GreenFuel technique is 30 times higher per hectare compared to the yield of oil derived from conventional terrestrial crops. Emissions of carbon dioxide are reduced by 40% and emissions of oxides of nitrogen are reduced by up to 85%. Plant retrofits can be made with minimal disruption to existing facilities.

Awards

* 2006 Energy Emission Project of the Year. Platts Global Energy Awards.
* 2006 Frost Sullivan Bio-based fuels technology Innovation Of The Year Award.
* 2006 Red Herring.

ee also

* PetroSun
* Aquaflow Bionomic Corporation

External links

* [http://www.greenfuelonline.com GreenFuel Technologies Corporation]
* [http://www.greenfuelonline.com/greenfuel_video_intro.htm Video Describing GreenFuel's Process and Technology]
* [http://www.payload.com Payload Systems] .
* [http://web.mit.edu/erc/spotlights/alg-all.html MIT Summary of the system]
* [http://www.greenstarusa.com/news/06-11-13.html Green Star in South Africa]
* [http://www.aps.com/general_info/newsrelease/newsreleases/NewsRelease_415.html APS news release] .
* [http://cleantech-israel.blogspot.com/ Cleantech Investing in Israel] Blog about cleantech-related news in Israel
* [http://boston-israel.org Boston Israel Cleantech Alliance] Promotes connections between cleantech entrepreneurs, investors and academic researchers in Boston and Israel

References