Algenol: New Partner In China
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.