11/3/2008

About $180 million in venture capital will be raised this year for algae research, according to industry research group Cleantech. Algae could be used as a nonfood biofuel source, once researchers crack the puzzle of growing algae on a large scale. The current cost of $10 to $100 per gallon for algae fuel would have to decrease before it becomes a cost-effective alternative to gasoline.

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