US-based Algenol, whose technology turns CO2 emissions into fuels, has closed a US$25 million dollar investment from Mexico’s BioFields.
The investment in Algenol by BioFields, which develops clean energy projects, follows a US$40 million investment made in 2014. Algenol converts CO2 from industrial emitters into transportation fuels.
The company is working to commercialize its technology and scale production of its products. Algenol has recently commenced initial operations of a pilot commercial module at its Florida development campus, which builds on the successful launch of a demonstration project in India.
Algenol’s other investors include India’s Reliance Industries, the US Department of Energy and Lee County, Florida.
