ALGAE PRODUCTION SYSTEMS
BIOFUEL MARKET GROWTH
More than 40 additional plants have been proposed, over half of which have obtained funding and are in the design/construction phase. The unprecedented growth and significantly elevated interest in the biodiesel market across the entire US is being fueled by three principal drivers:
Economic & National Security
The drivers pushing the growing interest in biodiesel are the rising cost of petroleum diesel, the desire to stimulate rural economic development through value-added agricultural applications, and the desire to reduce our dependence on foreign oil for reasons of trade balance and national security. Other economic drivers that are increasing the cost of petroleum diesel fuel are the mandates from the government that require cleaner fuels that are less pollutant to the atmosphere and produce lower levels of greenhouse gasses.
Environmental & Regulatory
The benefits of biodiesel for pollution reduction and as an oxygenate are significant and well-documented. Biodiesel contains 11% oxygen by weight and reduces the emission of carbon monoxide, unburned hydrocarbons and soot through improved ignition characteristics. In addition, biodiesel is a value-added ag-based product that is easily produced and fully capable of meeting any low-sulfur diesel requirements established by the Environmental Protection Agency.
The measures driving the biodiesel industry consist of usage mandates and incentive programs. The federal government and certain state governments have passed legislative mandates requiring compliance with renewable energy standards and alternative fuel requirements; these mandates, such as the landmark federal EP Act bill passed in 1992, have encouraged public and private sector fleet operators to utilize biodiesel blends and flex-fueled vehicles.