WASHINGTON, DC -- (Marketwired) -- 08/03/15 -- The Algae Biomass Organization (ABO), the trade association for the algae industry, issued the following statement regarding the Environmental Protection Agency's release of the final version of its Clean Power Plan, which notes that "state plans may allow affected EGU (Electric Generating Units) to use qualifying CCU technologies to reduce CO2 emissions that are subject to an emission standard, or those that are counted when demonstrating achievement of the CO2 emission performance rates or a state rate-based or mass-based CO2 emission."
"This is a huge win for the algae industry, and one we have been working towards for more than a year. The rule gives new certainty to a number of companies across the nation that are commercializing algae-based technologies that convert carbon dioxide generated at power plants into fuels, feeds, fertilizers and other valuable products.
"EPA's recent approval of an advanced biofuel pathway for Algenol Fuels' Direct-to-Ethanol® technology, as well as several other peer-reviewed life-cycle analyses of other pathways, clearly show that utilization of carbon by algae substantially reduces CO2 emissions to the atmosphere. There's no doubt that algae carbon utilization can and will make an important contribution to achieving the Clean Power Plan's emissions reduction goals.
"Carbon utilization will reduce the cost of emissions reduction for utilities and rate payers, and in some cases create a new revenue stream. This common-sense, market-driven approach has bi-partisan support throughout Congress and its growing importance is reflected by several bills in the House and Senate that direct federal agencies to increase funding for carbon utilization.
"EPA's recognition of two ABO member companies that convert waste CO2 into fuels and chemicals with this year's Presidential Green Chemistry awards demonstrated the Agency's appreciation of the key role of carbon utilization in mitigating greenhouse gas emissions. Today's final rule is a clear message that carbon utilization can and should be included in state compliance plans. It represents a huge gain for our industry and for the promise of carbon utilization, an idea that was not even considered by the EPA, Congress or the Obama administration a year ago.
We look forward to continuing to work with Congress, Federal agencies, state regulators and the utility industry to accelerate the adoption of job-creating, emissions-reducing carbon utilization technologies."
Carbon utilization technologies, such as algae cultivation, can transform carbon dioxide emissions into valuable products, simultaneously reducing harmful greenhouse gases and providing economic benefits. A number of algae companies across the country are working to commercialize new technology advances that convert concentrated sources of CO2 to renewable fuels, chemicals, fertilizer, plastics and feed ingredients, as well as high-value products such as Omega-3 nutritional supplements, powerful antioxidants, pharmaceuticals and cosmetics.
About the Algae Biomass Organization
The Algae Biomass Organization (ABO) is a 501 c(6) non-profit whose mission is to promote the development of viable commercial markets for renewable and sustainable commodities derived from algae. Its membership is comprised of people, companies, and organizations across the value chain. More information about ABO, including its leadership, membership, costs, benefits, and members and their affiliations, is available at the website: www.algaebiomass.org.
Scoville Public Relations for ABO