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U.S. Awards $22.5 Million to Groups Developing Algae Biofuels

Aug. 1 (Bloomberg) -- The U.S. Energy Department awarded about $22.5 million in grants to companies and researchers seeking to produce fuel from algae and other types of biomass.

Hawaii BioEnergy LLC, Sapphire Energy Inc. and New Mexico State University each will receive $5 million to develop algae-based fuel technologies, according to a statement today on the department’s website.

California Polytechnic State University will get $1.5 million to develop more producive algae. FDC Enterprises Inc. will get about $6 million to improve processes for collecting and distributing wood, grass and agricultural waste that’s converted into fuel.

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To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editor responsible for this story: Will Wade at wwade4@bloomberg.net

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