Global Green: Algae project out, biomass project steams forward

By Kris Bevill | October 14, 2008
Web exclusive posted Oct. 27, 2008 at 4:57 p.m. CST

Global Green Solutions Inc., which was formed two years ago to develop and market renewable energy technologies, recently announced it is abandoning its algae-based project in order to focus on a waste wood biomass steam generation project.

The company had been focusing on the two projects in tandem, but after a business analysis determined that the algae-to-oil project, known as Vertigro, would require additional significant research and development investment before it could be commercialized, the company decided to get out opting to invest all of its efforts into Greensteam, its biomass combustion system. "Market economic conditions dictate that we cannot afford to continue to develop and commercialize both technologies," a company release stated. "Therefore, we are restructuring [the company] to focus entirely on the Greensteam business."

In 2007, Global Green partnered with Valcent Products Inc. to commercialize Valcent's Vertigro algae system with plans to start building pilot-scale plants for customers before the end of 2008. Vertigro, according to the company, is a vertical bioreactor capable of produces mass amounts of algae using little water and space. The algae can also absorb carbon dioxide, making it possible for the company to become capable of generating carbon credits. Global Green had initially partnered with Valcent Products Inc. to form Vertigro Algae Technologies LLC. Global Green sold its 50 percent stake in the company to Valcent in exchange for $5 million cash, five million shares of Valcent stock and the rights to use the algae technology in the future.

Global Green plans to use the money generated from the sale of its portion of Vertigro to fund the early stages of multiple Greensteam projects.

Biodiesel Magazine wrote about Vertigro in its December 2007 issue. Click here to read Feedstock Frenzy.
 
 
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