Biodiesel from oil rich Algae ?

The Office of Fuels Development,(Dept in DOE) funded a program from 1978 to 1996 (when it was discontinued) under the National Renewable Energy Laboratory known as the "Aquatic Species Program" )PDF Alert

The focus of this program was to investigate high-oil content algae that could be grown specifically for the purpose of wide-scale biodiesel production. Some species of algae show a high oil content, >50%, and high growth growth rates.

PetroSun Drilling Inc. (Pink Sheets: PSUD), an oilfield services to major and independent producers of oil and natural gas, has announced that the company has formed Algae BioFuels Inc. as a wholly owned subsidiary.

Algae BioFuels will be engaged in the research and development of algae cultivation as an energy source in the production of biodiesel the R&D and production facilities for Algae BioFuels will be based in Arizona and Australia.

"PetroSun's formation of Algae BioFuels is a forward-looking strategy," said L. Rayfield Wright, president of PetroSun. "The opportunity to produce a renewable energy product that will assist in providing a healthier planet for future generations cannot be ignored."

PetroSun's current operations are headquartered in Phoenix, and are concentrated in the Ark-La-Tex region with plans to expand into New Mexico, Arizona, Utah and Australia in 2006. PetroSun provides a comprehensive array of products and services to the oil industry. http://www.petrosun.us

Company President is Rayfield Wright who played for the Dallas Cowboys and participated in 166-games, started at right tackle in six NFC championship games, played in five Super Bowls, winning two of them (VI and XII), earned his first of four All-NFL honors in 1971 and was voted that same year to the first of six straight Pro Bowls. His blocking and leadership as the team's co-captain for 7 years, helped the Cowboys win 10 division titles and six conference crowns.