Notes from a meeting of the Northwest Biodiesel Network during which Dr. Margaret McCormick, COO of Targeted Growth Inc. (TGI), spoke about the “State of the Algae Biofuels industry”
TGI buisiness model —
- Increase yield w/genes
- Camolina and algae (focus on Cyanobacteria because easier to engineer — just pour genes on!)
- Sustainable fuels
During meeting, UW Professor Rose Anne Cattolico stood out as expert on algae
Her friend Brian had strong opinions and insights into Imperium and investment activity in the sector
Bioalgae is a local company which sent a couple reps to this meeting.
Algae Biodiesel Organization (ABO) is national organization that promotes the development of viable commercial markets for renewable and sustainable commodities derived from algae.Â They have run 4 Annual Algae Biomass Summits.
Slide regarding theoretical (yet to be reached) yield of oil from algae vs other plants (in gallons/acre):
- 2-3000 algae
- 635 palm
- 202 jatropha
- 127 canola
- 61 mustard
- 48 soy
- 35 cotton
- 18 corn
Other corporations focusing on GMO:
Sapphire, algenol, solazyme
Pipeline of algae industry:
- Biology (auto vs hetero)
- Extraction (Cold press gets 33% of seed oil, rest w/solvents)
- Conversion to products; examples:
- Some corporations focusing on ethanol from algae
- TGI jet fuel 10^5 gal production in Texas
- Darpa funding of General Atomics to produce $2/gal jet fuel
- Sales & distribution (likely to happen through existing infrastructure controlled by big petroleum companies)
Biofuels road map
- 200 M$ DOE
- USDA loan to Sapphire
- DOD jet fuel purchase from Solazyme
- 52 M$ Solazyme (Branson)
- 15 Aurora biofuels
- 30 Joule
- PetroAlgae filed IPO
Pilots (online in next 2y):
- Algenol/Dow ethanol cyanobact
- Phycal Â 24$M hawaii sequestratn
- 300 M$ Synthetic Genomics/Exxon
- 300 M$ Exxon marketing
Existing projects and other players —
- Cyanotech 93 acres HI
- MarTec omega3/6 for babies
- ABO forecast 2015 — 300,500 Mgal/yr prodctn/capacity
- 2020 Sapphire 1 Bgal/yr
- 2015 220 in/direct jobs
- Fodder, fish Â (livefuel biomass)
- C capture
- Fresh H2O remediation
- Food ingredients
- Health food
Is Algae close to being a viable commercial feedstock for the biodiesel/biofuel industry? What is the reality and what is the hype? What can we expect to see in the near future? Where is the algae industry headed? What are the environmental implications of Algae?
The NW Biodiesel Network is pleased to present John Pierce, co-founder and Board member of the Algal Biomass Organization. This organizations mission is to promote the development of viable commercial markets for renewable and sustainable commodities derived from algae. Get your questions answered! 7:00 pm to 9:00 pm, Phinney Neighborhood Center, 6532 Phinney Ave. North, Seattle WA 98103 (click image to the left for a map to the PNA).
Update: About Our Speaker
John F. Pierce sends his regrets, but he was called away on business on very short notice.
But in his place will be Dr. Margaret McCormick of Targeted Growth Inc..Â We are very pleased to have her come present to us, and are looking forward to getting her perspective on the state of the Algae Biofuels industry!Â Thank you Ms McCormick, for filling in on such short notice!
Dr. McCormick is on the Board of the Algal Biomass Organization, and has been with TGI since 2008, managing the companyâ€™s Bio-Based Materials program as well as leading various company-wide efforts including legislative and intellectual property strategy.Â Prior to joining TGI, Dr. McCormick was a partner with Integra Ventures where she led Integraâ€™s biotechnology investment strategy and its investment in TGI.Â Prior to joining Integra, she was the founding president and COO of Sapphire Therapeutics (formerly Rejuvenon Corp.). Earlier in her career she was a consultant with McKinsey & Company. Dr. McCormick earned a Ph.D. in Biology (with a focus on metabolic engineering) from the Massachusetts Institute of Technology and a BS degree from the University of Wisconsin â€“ Madison.