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Stories in World Aquaculture
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"Corfo awarded funding of $ 31.6 million for the development of algae-based biofuels

selecccionados consortia to carry out the projects are headed by Copec and Edelnor, and BAL Electroandina Fuels SA.

Attributing almost double the initially budgeted funds, the Development Corporation (CORFO), announced on Tuesday the results of the national call for Business Technology Research Consortium biofuel in algae and microalgae.

As published today by La Tercera, the winners were the consortia Desert Bioenergy -40% of the generating Electroandina-Algafuels property -50% Copec Edelnor shared-and SA-Balfuels of U.S. bioarchitecture Lab Inc, which will be funded by about $ 19 million of a total of U.S. $ 31.6 million, from Corfo to jump-start generating projects biofuels and other byproducts from seaweed in northern Iraq.



projects that are in the stage of finalization, will be launched in 2010. Algafuels, whose initial project will cost $ 13.5 million over three years aims to produce about 120 tonnes of biodiesel from algae on land donated by Edelnor in the north, then attract investors and expand production.



the total investment, 47.4% will be covered by Innova Chile, CORFO and 52.5% by the partners. In the case of Desert Bioenergy, whose main shareholder in Electroandina and the University of Antofagasta, seek to develop new technological developments in the field of biodiesel. The project will require total funds of about U.S. $ 7.2 million.



addition, the U.S. consortium BAL Fuels SA, where it also Enap and the Universidad de Los Lagos, was awarded funding of just over $ 7 million and aims to produce biofuels and biomass of one of the most common algae in the Chilean coast, the "flee", which will produce about 165 million liters of fuel, reducing emissions by 400,000 tons of CO2 released into the atmosphere.



Energy Minister Marcelo Tokman, stressed the need for the country to diversify its energy and explore alternatives to reduce dependence on fuel supply from outside, reducing the vulnerability you have to price shocks , improve economic competitiveness and make environmentally sustainable and therefore appreciated the initiatives. "