IOWA TURNS TO ADVANCED ALGAE ETHANOL

New Clear Lake company promotes algae as biofuel
John Skipper, February 24, 2010 (Globe Gazette)

"…[Bud Jermeland, president of Energae LP], said the primary focuses of his [Clear Lake, Iowa] company are waste-based ethanol and the use of algae in the making of ethanol for the nutraceutical and pharmaceutical markets…

"The company recently purchased a 49 percent share of the Permeate Refining LLC ethanol plant in Hopkinton (Iowa)…That provides Energae with an instant revenue stream to help finance other projects."

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"The ethanol is waste-based, not corn-based…so the product is not subject to the price swings of the highly-volatile commodity markets…Energae is producing algae in South Carolina that will be used as a low-cost extract for alternative fuels…

"…[The] company is committed to the fact that algae is the best long-term solution for cost-efficient biofuels and biodiesel in particular…He said another possibility for algae use is to grow pharmaceuticals and nutraceuticals…"

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"Jon Alexandres of Tallahassee, Fla., a former Mason City businessman, did research on the algae project and helped raise $4 million to build a complete-algae producing system in South Carolina…Jerry Krause, longtime Clear Lake businessman…is the investor relations officer for Energae…Krause said the company has 260 investors and has room for more. Minimum investment is $5,000."

[Bud Jermeland, president, Energae LP:] “We are committed to the fact that algae is the best long-term solution for biofuels - biodiesel in particular…The possibilities for algae continue to evolve…When gas and diesel prices were at $4 a gallon, alternative fuel projects generated more interests and incentives…We continue to search for the least cost, most efficient oil extraction methods. That alone is the key to a successful green fuel project involving algae.”