Kumho Petrochemical to build algae bioethanol plant

YEOSU, South Korea, Aug. 27 (Yonhap) -- Kumho Petrochemical Co., the South Jeolla
provincial government and a local biotechnology firm agreed Thursday to establish
an algae bioethanol plant by 2013, officials said.
The agreement calls for Kumho to invest a total of 200 billion won (US$176
million) to build the facility with an annual production capacity of 100,000 tons
of algae bioethanol at an industrial complex in the southern coastal city of
Yeosu.
"We are taking the first step for algae biofuel production, the promising and
growth industry in the region," South Jeolla Gov. Park Jun-young said. "Through
the agreement, we expect South Jeolla Province will be able to gain the lead in
the bioenergy industry."
Under the agreement, Biosystems Co. will provide "high-pressure liquefying"
technology to convert algae into fuel. The company plans to set up a pilot
facility by 2011 to produce 4,000 liters of bioethanol per day with an investment
of 20 billion won.
Bioethanol, a renewable energy source, is typically produced from sugarcane,
switch grass, corn or grain and often blended with gasoline to fuel cars. Algae
bioethanol, also known as a third-generation biofuel, can possibly replace
petroleum fuel in the near future.
jia@yna.co.kr
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