USD 31.6 million to develop algae biofuel
Marcelo Tokman, Chilean Minister of Energy explained that the State has addressed large resources to develop second-generation biofuels because “we are convinced that the country has a huge potential in this matter”.
He added that “Chile’s large coast and excellent solar radiation make us consider with optimism regarding biofuel development from micro and macroalgae. By the creation of these consortiums we look to foster technologies that are still not completely mature or whose barriers to entry are too high, but in which we foresee a promising future”.
The benefited consortiums are Desert Bionergy, AlgaFuels and BAL Biofuels. The Chilean Economic Development Agency (Corfo) and Innova-Chile will invest USD 19 million, while the whole public-private investment totalizes USD 31,637,000.
