AFS BioOil has conducted initial tests on its algae production system, and the company states that they will be in the $2 per gallon range of production at commercial scale. For advanced biofuels, commercial scale is at least 1 million gallons per year of production.
“The next project for us is one to three million gallon/yr system,” said CEO Vadim Krifuks. “We are putting all our efforts in preparing to execute it.”
Krifuks said his company is looking for partners around the world to join them in their development. Most recently, the company partnered with a renewable electricity company that has the technology to convert waste heat into electricity at a cost of 6 cents per kilowatt hour (kWh). Krifuks believes they can reduce the cost by another 2 cents per kWh.
The next step in this project is for the two companies to combine electricity production with biodiesel production into one facility. The two companies are laying the plans for a 5 MWe renewable electricity and 1 to 3 million gallons per year of biodiesel project. The design stage is underway and the project scope will be released later this year.