Click here for more information about Algenuity
Click here for more information about LiqofluxPhenometrics Buy 3 Get 1 Free
Visit cricatalyst.com!Evodos Separation Technology

Scale Up

Tesla-inspired Euglena bets big on algal jet fuel

April 30, 2018
AlgaeIndustryMagazine.com

Euglena is risking everything “Tesla style” on algal jet fuel

J dropcapapanNews.com reports that Euglena Co., a Tokyo-based maker of nutritional supplements, is spending ¥5.8 billion ($5.3 million USD) on building a test refinery that converts algae into biofuel used to power jets and vehicles. The investment is equal to about half of last year’s total revenue for the company, though it will only produce five barrels a day. By comparison, its larger processing partner, JXTG Holdings Inc., has a daily refining capacity of about 320,000 barrels at its biggest plant.

“The fact that a company with a revenue of our size is investing in facilities that won’t make a profit means we’re risking everything,” Euglena’s director Akihiko Nagata said.

It must take risks, Mr. Nagata said, if it is to try to reach the heady heights of the company’s muse­ — Elon Musk’s Tesla Inc. While a comparison to the U.S. company, with a market value of $50 billion, seems far-fetched, Mr. Nagata says his company draws inspiration from the electric-vehicle maker’s willingness to risk near-term profits and make big investments for longer-term goals.

Mr. Nagata sees the test refinery as a major step toward building and operating a commercial biofuel plant that can produce 2,000 barrels a day of jet fuel and diesel by 2025, and the company has the backing of JXTG, the country’s biggest refiner, as well as major airline ANA Holdings Inc.

“I always see our company as similar to Tesla,” Mr. Nagata said. “Taking risks to challenge difficulties.”

Read More

More Like This…

Copyright ©2010-2019 AlgaeIndustryMagazine.com. All rights reserved. Permission required to reprint this article in its entirety. Must include copyright statement and live hyperlinks. Contact editorial@algaeindustrymagazine.com. A.I.M. accepts unsolicited manuscripts for consideration, and takes no responsibility for the validity of claims made in submitted editorial.

twittertopbarlinks_eventstopbarlinks_requesttopbarlinks_archives

From The A.I.M. Archives

— Refresh Page for More Choices
AlgaEnergy, a Spanish biotechnology company specializing in the production and commercial applications of microalgae, and Yokogawa Electric Corporation, a leading provide...
Foodbev.com reports that French marine ingredients company Algaia will install a new specialty seaweed extract unit at its facility in Brittany, France, after securing €4...
Jason Huffman writes in UndercurrentNews.com that the Kampachi Company, a mariculture business focused on expanding the environmentally sound production of sashimi-grade ...
Judith Lewis Mernit writes in e360.yale.edu that an experiment being conducted by animal science professor Ermias Kebreab at the University of California, Davis, is testi...
“The Israeli food-tech industry has been growing in leaps and bounds in recent years and is taking a leading role worldwide with a broad range of innovative companies and...
Cody Nelson writes for MPRNews.org that a team of University of Minnesota-Duluth researchers wanted to know how shortening winters — and less ice cover on lakes — might i...
San Diego, CA and Kailua-Kona, HI-based Cellana, Inc. has signed an Asset Purchase Agreement with Cyanotech Corporation for the sale of Cellana’s six-acre production and ...
Amy Thompson writes in Space.com that SpaceX successfully launched its 15th Space Station cargo-resupply mission on Friday, June 29; carrying a payload of experiments des...
Trade Arabia reports that the Oman Centre for Marine Biotechnology (OCMB) recently signed a memorandum of understanding with Swedish Algae Factory to support the domestic...
E.A. Crunden writes in thinkprogress.org that Florida’s first gubernatorial debate was dominated by environmental and climate issues, with an emphasis on the state’s alga...
42 Technology has been appointed by LabXero, acoustic particle filtration technology company, to help develop pilot-scale biomanufacturing equipment that could significan...
Cécile Barbière writes for Euractive.fr (translated by Rob Kirby) that, in large greenhouses formerly home to the tomatoes and cucumbers of the market gardening Groupe Ol...