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Palmer Labs Awarded U.S. Department of Energy Funding for Algae Biofuel Research
Date:1/14/2010

DURHAM, N.C., Jan. 14 /PRNewswire/ -- U.S. Department of Energy (DOE) Secretary Steven Chu announced Wednesday the award of $44 million in federal stimulus funds to The National Alliance for Advanced Biofuels and Bioproducts (NAABB), a consortium including Palmer Labs, LLC, of Durham, NC.

The DOE funds will support enhanced research by Palmer Labs of its patent-pending algae technology addressing both energy and nutritional applications. "Our goal is highly focused," said Dr. Miles Palmer, company president.   "We take the biggest problems -- currently in energy and food resources -- and find cheaper and better solutions through innovative combinations of proven technologies. The DOE stimulus funds provide timely support of this pressing goal to us and our consortium partners."

"We are very excited about this announcement," said N.C. Department of Commerce Secretary J. Keith Crisco. "Palmer Labs is a great example of the innovation and creativity that are driving North Carolina's future, especially in the energy/green jobs sector, which Governor Perdue has emphasized as one of her top priorities for economic development."

"North Carolina is fortunate to have Palmer Labs consolid
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