Biofuel boom on the horizon

  • 11-Oct-2010 03:15 EDT
GM photo of biofuel pump for Lux Research brief.jpg

Caltex Australia recently announced it would install 11 pumps in Victoria to sell its new fuel, Bio E-Flex. (General Motors)

Biofuel production capacity will increase 7.8% annually to 53 billion gal (200 billion L) by 2015, according to a report by Lux Research. Current capacity is only 3% that of petroleum fuel. “It is now obvious that incumbent technologies like ethanol and biodiesel will drive new capacity less and less,” said Andrew Soare, an analyst at Lux Research and the lead author of the report. Instead, the industry will capitalize on the technical advantages of emerging platforms, such as algae. He notes that four variables could change the projections. They include new technologies, new regulations, deeper corporate involvement, and falling oil prices. The report, “Bio-based Fuels and Materials through 2015: Growing Capacity Past a Drop in the Bucket," is based on a review of more than 1000 bio-based fuels and materials producers from around the globe. Biomaterials capacity is projected to grow 17.7% annually to 8.1 million ton (7.3 million t) in 2015.

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