Heliae breaks ground on biorefinery in Ariz.

Algae-technology firm Heliae has started construction on a plant in Arizona. Heliae's long-term goal is to produce transportation fuels from algae, but in the meantime will focus on algae-based materials for the chemical, cosmetic and food industries, CEO Dan Simon said. "We will never take our eyes off the transportation fuels. But there are stepping stones to get us there. Production costs have to come down," Simon said.

Source: Forbes, May 20, 2012

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