Dear algae technologists,
We’ve witnessed some interesting moves in the last few days from several big algae tech players.
Algae fuels
For starters, AECOM announced the signing of a strategic partnership with Genifuel to scale production of their algae based aviation fuel and biogas products. Two key pieces of technology are at the center of this collaboration: AECOM’s patent-pending technology for wild-harvesting algae, and Genifuel’s patented Hydrothermal Processing (HTP) technology for converting algae to renewable energy.
Carbon credits
Pond Technologies, a microalgae for carbon credits company, also showed their intent to grow by joining the Ontario Clean technology Industry Association. It’s been interesting to follow this companies more aggressive commercialisation approach and plan in early 2022. Clearly, I’m not the only one excited about microalgae’s potential climate tech role.
Water remediation
Now, from microalgae cultivation to algae removal, Phoslock Technologies recently updated us through their Full Year 2021 Results and Outlook presentation. Phoslock Technologies are an interesting Australian group solving global water quality problems through water remediation. Their flagship products are Phoslock and Zeolite, which prevent harmful algae blooms by removing excess phosphorus and nitrogen from waterways.
The undercurrent of optimism during the call will be greatly appreciated by investors, who have been somewhat apathetic towards the company after the negative press and fraud scandals which rocked their China-based operations in 2020.
Here’s what Chairman David Krasnostein had to say about the situation:
2021 was an extraordinary year for the company and its management. Much of our time, energy and focus was spent cleaning up the company’s past affairs. That effort was time consuming, expensive, and emotionally difficult for everyone.
Most of our internal investigations are now completed, and we continue to cooperate with relevant authorities to ensure we can put those legacy matters to rest.
As 2021 drew to a close, it was very clear to me that this company had pivoted in a new direction. The energy in the company was markedly different to the year before and we are now infused with a more optimistic view of the future.
David Krasnostein
Hope you have a great day, and stay tuned for more algae-tech updates soon!
-Peter
