January 24, 2012

Pond Biofuels to pilot cement absorption system

TORONTO

Pond Biofuels is piloting a new carbon dioxide (CO2) absorption system at St. Marys Cement.

The new system will reduce greenhouse gases by absorbing dirty smokestack emissions to grow algae which can be used in oil production, converted into biodiesel and bioplastics or act as a renewable coal substitute. One tonne of algae can yield 100 litres or more of biodiesel.

“Algal biomass can produce the same amount of energy as the equivalent amount of coal, and can be refined to produce higher grade fuels such as diesel and ethanol among others,” reads the company website.

According to its website, the Pond Biofuels system utilizes microalgae to convert the CO2 emissions of major industrial emitters into biofuel, through the process of photosynthesis, and ultimately into bio-oil and biodiesel.

Pond Biofuels says there are 10 plants producing in excess of 4,000 tonnes per day of CO2 just in Ontario.

It says there is significant global market opportunity for the implementation of the technology among major CO2 emitters in industries such as cement, refining, coal and steel. The estimated global market for biofuels in 2011 was $82.7 billion and is forecasted to rise to $185 billion by 2021.

Pond anticipates progressing to a full-scale commercial facility at St. Marys by 2014.

“Solving the problem of industrial emissions requires industry, government, technology and capital all working together. We have that here, with Pond Biofuels providing the technology, St. Marys as our commercialization partner, angel investors in the Biomaterials Investment Group and support from the Province of Ontario. Going forward, Pond’s made-in-Ontario technology can be applied to other essential industries, like steel, power generation and resource extraction,” said Steve Martin, CEO, Pond Biofuels in a release.

According to a 2008 study from the Canadian Medical Association, Ontario’s economic cost related to air pollution, in terms of lost productivity, healthcare costs, quality of life and loss of life, is almost $4 billion.

The province of Ontario expects this initiative to create 10 new full-time and part-time jobs.

DCN NEWS SERVICES

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