MOUNTAIN VIEW, Calif., Aug. 20 /PRNewswire/ -- Based on its recent analysis of the algae biofuels market, Frost & Sullivan recognizes Algasol Renewables with the 2010 Global Algae Biofuels Green Excellence in Technology Innovation of the Year Award. Algae biofuels offer a possible solution to two crucial issues plaguing consumers – rising crude oil prices and climate change. However, large-scale commercial production of algae biofuels needs a cost-effective technology that assures a sustainable production pathway with optimized resource usage.
Algasol Renewables provides a critical and innovative method for micro algae biomass production. Its modular floating bag technology, a new variation of photobioreactors (PBRs), provides a low-cost design coupled with industrial scalability, optimal light exposure, high biomass concentration, low energy consumption, and efficient system control. A key aspect of the technology is its entirely flexible structure utilizing only an integrated density management system to control the position of the PBR in the water.
Algasol Renewables is able to reduce energy and water use by taking advantage of an internal aeration system, high biomass concentration and free stirring from waves as well as through a natural temperature buffer provided by the surrounding sea. In addition, the company's commercial unit-size PBR is capable of holding up to 500 m3 of algae culture in modular sub-units and only needs 3 m3 of low-cost polymer material, thereby evidencing a clear commitment to optimal resource management.
Furthermore, Algasol Renewables has developed an adverse weather protection system, which enables its PBRs to submerge for protecting the algae culture as well as the PBR. This means that the floating PBR technology of Algasol Renewables can be deployed both in ponds on land or in the ocean, thereby providing maximum flexibility in terms of where to locate large-scale micro algae production facilities.
"Algasol Renewables' approach is expected to be the pioneer to achieve an economically and environmentally sustainable large-scale algae biofuels production," says Frost & Sullivan Global Program Manager, Transportation Chemicals, Robert Outram. "The company has shown an astonishing entrepreneurial dexterity in introducing a new environment-friendly production system, which could eventually be rolled out across the world."
Large-scale production of algae biofuels requires huge amounts of energy, water, nutrients, and non-degradable inputs. This is likely to raise concern about its supposedly beneficial environmental contribution. Achieving this goal is expected to significantly ease the world's fossil fuel dependency. Hence, CO2 emissions, which contribute to climate change, are likely to be reduced.
Algasol Renewables' technology reduces the need for intensive use of resources not only by reducing cost, but also by leaving a positive footprint on the planet. Being a modular "plug and play" system that can be rolled out easily and locally, Algasol Renewables' technology avoids the carbon footprint associated with constructing and installing more complex production systems and with transportation of fossil fuels. Its innovative approach is expected to have a significant beneficial effect on the environment, if it allows a massive adoption of algae biofuels. Thus, the amount of fossil fuels consumed is expected to be reduced. In the long term, the company expects to adopt biodegradable plastic materials for its floating bags, thereby increasing its commitment to the environment.
For these achievements, Algasol Renewables is the worthy recipient of the 2010 Global Algae Biofuels Green Excellence in Technology Innovation of the Year Award. Each year, Frost & Sullivan presents this award to the company that has developed a service platform characterized by long-term sustainability, the ability to optimize resource usage, and the adaptability to changing environmental needs. The award recognizes entrepreneurial dexterity in incorporating conservation into the business concept and the industry's acknowledgement of the green initiative in question, by way of financial support, strategic support, and recognition as a pioneering venture. The recipient has shown environmental accountability and provided a service with inherent features that enhance adoption/participation rates and creates collective accountability toward reducing the impact of climate change, dependency on finite resources, and ecological footprint.
Frost & Sullivan's Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About Algasol RenewablesAlgasol Renewables is a technology company with a unique technology for low-cost production of micro algae in a closed environment. The technology is a flexible multi-compartment PBR floating on water that can be deployed both on land in ponds or in the ocean. A patent pending in national phase in all relevant PCT countries covers all key aspects of the PBR technology. The company exclusively focuses on commercializing its unique PBR technology for low-cost production of micro algae biomass and pursues an active partnership strategy to maximize speed of the commercialization process. For more information please visit http://www.algasolrenewables.com.
About Frost & SullivanFrost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents. To join our Growth Partnership, please visit Best Practices Awards Banquets.Contact:Jake Wengroff210.email@example.com
|SOURCE Frost & Sullivan|
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