Biodiesel and Ethanol Investing

news-press.com reports that a failed grant application may have led Bonita Springs, Florida-based Algenol Biofuels Inc. to eye Texas for its ethanol biorefinery. Algenol applied for a state grant Nov. 19, seeking $1.75 million to purchase 15 acres in Palm Beach County and $750,000 to buy equipment. Florida denied that request because renewable energy grants cannot fund land acquisitions. Algenol claims it can produce ethanol in large quantities, and at a low cost, by using algae, sunlight, carbon dioxide and seawater.