Protec, Algenol Partner to Offer Algae-Based Ethanol
BOCA RATON, Fla. and FORT MYERS, Fla. — Protec Fuel Management LLC and Algenol Biotech LLC have teamed up to offer ethanol made from algae for the first time commercially.
The two companies are expected to offer 18 million gallons per year of algae ethanol. Under terms of the agreement, Algenol will produce the alternative fuel from its commercial plant, planned for development in Central Florida in 2016 or 2017.
Protec will distribute and market the fuel for E15 and E85 applications for both retail stations and general public consumption, as well as for fleets.
"We know that advanced ethanol is a key element of the future of fuels, and we are excited to partner with Algenol, the leader in the development of algae-based fuels," said Todd Garner, CEO, Protec Fuel. "The key components and priority of ethanol's use are sustainability, cleaner air, and to provide the public with lower-cost fuel," he said. "To be able to offer a fuel that can accomplish the three key components only bolsters this advanced biofuel's future."
According to a joint news release, the partnership follows a series of successful commercialization milestones achieved by Algenol, including pathway approval by the U.S. Environmental Protection Agency in December 2014.
"This alliance is a logical step for Algenol as our commercial fuels are coming online," said Algenol Founder and CEO Paul Woods. "We are excited about partnering with a successful, innovative renewable fuels distributor, who is knowledgeable in the regional and Florida ethanol market and has the expertise and relationships to grow the partnership nationally."
Algenol’s algae platform produces ethanol, gasoline, jet and diesel fuels. These algae-based fuels sell for $1.30 per gallon, stated the Fort Myers-based company.
Boca Raton-based Protec Fuel provides E15, E85 and other ethanol blends to more than 300 retailers throughout the United States.