Ethanol maker plans distribution

FORT MYERS — Algenol Biofuels says it has signed a deal with Protec Fuel Management of Boca Raton to distribute ethanol it makes from algae in a demonstration plant in Fort Myers.

Algenol also plans to build a larger commercial plant in an undisclosed area of Central Florida as soon as next year and the agreement with Protec includes distributing 18 million gallons a year from the proposed plant.

Algenol has developed a patented technology using algae to produce the four most widely used fuels: ethanol, gasoline, jet and diesel fuel for about $1.30 a gallon. “This alliance is a logical step for Algenol as our commercial fuels are coming online,” says Algenol's founder and CEO Paul Woods, in a statement.