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Phycal Lands $24M Grant for Algae-Based Biofuel

Fri, 07/23/2010 - 6:52am

CLEVELAND (AP) — An Ohio company has landed a $24 million federal grant for a project that will produce biofuel from algae in Hawaii.

The U.S. Department of Energy grant was announced Thursday afternoon for Phycal (FEYE'-kal) LLC of Highland Heights near Cleveland.

The project will use industrial carbon dioxide emissions to cultivate microalgae to be used in making biofuel that can be blended with other fuels.

The second-phase grant was one of six totaling $106 million in federal funding announced by DOE.

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