Statoil to work with California fim on seaweed ethanol
Someday cars may drive around with fuel made from Norwegian seaweed in their tanks.
Oil giant Statoil ASA will work with Bio Architecture Lab in Berkeley to study making ethanol from seaweed grown off the coast of Norway.
Statoil (NYSE: STO) is based in Stavanger, on Norway’s North Sea coast opposite Aberdeen in Scotland, and is a major offshore oil and gas business.
It will pay for Bio Architecture Lab to do research on producing cheap ethanol from seaweed and will also pay for any demonstration projects. If the techniques work, Statoil will pay for commercialization of the process in Norway and then elsewhere in Europe, paying royalties to Bio Architecture Lab.
Daniel Trunfio is CEO of Bio Architecture Lab, which was started three years ago and has gotten money from a Department of Energy ARPA-E grant and also from the government of Chile. BAL has an office in Santiago.
BAL has been building another seaweed fuel program off the coast of Chile.
Read the full story in the San Francisco Business Times.
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