China Looks to Algenol’s Carbon Mitigation Technology to Reduce Rising Global CO2 Levels and Help Combat Climate Change
U.S.-based Algenol will partner with South China’s Fujian Zhongyuan New Energy Company, Ltd. (ZYNE) to develop projects throughout Southern China, utilizing carbon emissions to create renewable fuels. The goal is to provide solutions for China’s three biggest challenges: access to clean air, clean water and sustainable fuels.
September 22, 2015 (Ft. Myers, FL) - U.S.-based Algenol will partner with South China's Fujian Zhongyuan New Energy Company, Ltd. (ZYNE) to develop projects throughout Southern China, utilizing carbon emissions to create renewable fuels. The goal is to provide solutions for China's three biggest challenges: access to clean air, clean water and sustainable fuels.
Today in Seattle, Algenol's CEO and Founder Paul Woods along with Wang Suwei, ZYNE's Chairman of the Board, signed a memorandum of understanding (MOU) establishing the partnership for this joint exploration project. Representatives from both companies attended the ceremony, along with government leaders from both the U.S. and China.
Under the framework of the U.S. - China Climate Change Working Group, there is a global effort to reduce greenhouse gas emissions. Algenol's patented Direct to Ethanol® technology process utilizes industrial CO2 emissions directly from power plants as a feedstock for proprietary algae to produce the four most important renewable transportation fuels (ethanol, gas, diesel and jet).
"We all share one atmosphere. Clean air has no borders," says Algenol CEO Paul Woods. "We are eager to bring our technology to China because we know that our process can remove health-damaging pollution straight from its source and turn it into renewable fuel and clean water."
This partnership unites the economic and environmental benefits of Algenol's technologies with ZYNE's existing expertise in delivering renewable fuels in China. The companies will identify and evaluate the utilization of CO2 emissions from industrial sources such as power plants, steel mills, cement and chemical factories in the Fujian province, and other parts of Southern China. Once the CO2 sources are identified, the process will begin to incorporate Algenol's technology solution of carbon capture and utilization and renewable fuel production. An added benefit of Algenol's technology is the primary by-product of clean water, which is valuable to many communities in Southern China.
At the beginning of 2015, the U.S. Department of Commerce and the U.S. Department of Energy invited Algenol to join a Presidential Trade Mission to China. The mission highlighted Algenol's technology as a solution for significant reduction of China's carbon emission pollution.
Algenol recently won the inaugural Presidential Green Chemistry Award for Climate Change and the 2014 Global Leadership Award in Biofuels from PLATTS. Algenol's algae platform produces the four most important transportation fuels (ethanol, gasoline, jet and diesel) for $1.30 USD each per US gallon. Algenol's proprietary Direct to Ethanol® process harnesses the incredible productivity of its patented strain of algae to drive yields 20 times that of corn ethanol and requires only sunlight, saltwater and CO2 for production. Algenol has commenced initial operations of its commercial module at its Florida development campus and will begin construction on a full-scale commercial facility with initial sales in 2016.
About Zhongyuan New Energy Co. Ltd:
Fujian Zhongyuan New Energy Company, Ltd. (ZYNE) was established in March 2007 with registered capital of 66 million RMB. Since the company was established, it has been dedicated to the research and development, production and marketing of alcohol-ether fuel. As a clean and efficient fuel, alcohol-ether's exhaust emissions are much lower than traditional gasoline, and its energy content is higher. Currently, many countries have promoted the use of alcohol-ether fuel, and more than 20 provinces in China are promoting its use. In the alcohol-ether fuel sector, ZYNE is the strongest enterprise in south China, and the company has been awarded the certificate of National High-Tech Enterprises. ZYNE's products have been sold to most parts of China, and its operating income grew 54% last year.