PetroSun announced this morning that it has formed PetroSun BioFuels Mexico to expand its algae-to-biofuel operations to the State of Sonora, Mexico. The division will develop algae cultivation farms and extraction plants in Sonora and southern Arizona that can produce algal oil, algae biomass products and electricity for the Mexican and U.S. markets through joint venture agreements.
PetroSun BioFuels intends to establish one thousand algae cultivation pods to produce algal oil as feedstock for biofuel refineries within three years. A single cultivation pod could produce over 2.5 Million gallons a year based on lower case production projections. Accomplishing this milestone would give the company the capacity to produce approximately 2.56 Billion gallons of algal oil each year.
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