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Algaennovation signs deal with Iceland geothermal plant

August 21, 2018
AlgaeIndustryMagazine.com

Experimental production of Algaennovation at Hellisheidi, Iceland. Source: ON Power

Alexander Richter writes in thinkgeoenergy.com that Israel-based Algaennovation last week signed a 15-year contract with Icelandic energy utility and operator ON Power for the purchase of energy and other inputs for small-scale algae production, which the companies say will be the first of its kind in the world.

Icelandic engineering group Mannvit has been preparing for the start of production of Algaennovation since February, and has been responsible for all design, procurement and project management for microalgae production at the Geothermal Park of ON Power, at the Hellisheidi geothermal power plant.

Algaennovation is an international startup that has been developing new technologies for the production of microorganisms. The company is run by Israeli scientist Isaac Berzin, whose early research focused on microalgae’s enormous potential as a biofuel but, in more recent enterprises, has turned more of his attention toward the opportunities of algal-based fish food.

The newly-signed project incorporates further utilization of the energy generated by ON Power at Hellisheidi, whereby Algaennovation buys hot and cold water, electricity and carbon dioxide for production. Collaboration with ON enables Algaennovation to have negative footprints and use less than 1% of freshwater and terrestrial areas used by conventional small-scale algae companies for production.

The first phase of the project will be completed this year, leading to the start of production of seafood feed in the middle of next year.

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