Global Green Solutions Inc (OTC BB: GGRN.OB) has announced that it will fund a demonstration pilot plant of the Vertigro bio-fuel oil/C02 sequestration system developed by Valcent Products Inc.(OTC BB: VCTPF.OB)) of El Paso, Texas at an estimated cost of $ 2,500,000. The Plant will be built on Valcent's lands located in the El Paso area by mid July of next year. Global Green will have earned the exclusive world rights to a bio-fuel oil technology from Valcent on completing the pilot plant. Global Green will have earned a 70% joint venture interest, leaving Valcent with a 30% carried joint venture interest.
The Vertegro system consists of a series of closely spaced vertical bio-reactors constructed of thin film membranes allowing high levels of light penetration. This new bio-reactors are tailored to grow a species of algae that yields a large volume of high grade vegetable oil, which is very suitable for blending with diesel to create a bio-diesel fuel.
The membrane is configured for an optimum flow for the growth of algae. This dynamic system produces much higher algae growth rates than conventional static systems. It uses certain algae that consume up to 90% of their weight with C02 using sunlight as the energy source to drive photosynthesis. Approximately 50% of the dry weight of the algae is an oil suitable for bio-fuel blending with diesel and for other uses. When fully operational, the system yields a constant supply of algae which is harvested, dried and processed to remove the oil, leaving a residue of some 50% by weight, which can also be sold for a variety of commercial products. The system will be a continuous closed loop, which allows for a greater retention of water in the system, and eliminates cross contamination by other algae species.
Data received from Valcent's continuously operating test bed facility demonstrates that yields up to 4,000 barrels oil per acre, per year, at an estimated cost of $20 per barrel are achievable on a commercial scale. As a comparison, typically corn will yield up to one-half a barrel of oil per acre per year at considerably higher cost; palm oil, with highest yield of conventional sources, delivers approximately fifteen barrels of oil per acre per year. After a demonstration pilot plant is in operation, several production units that may total 1,000 acres may be built which would have the potential of producing approximately 4,000,000 barrels of oil per year, with significant carbon dioxide green credits and other commercial products. At that rate of production, Vertigro will sequester approximately 2,700,000 tons C02 per year which will be sold as a green credit within the emerging green credit system within the USA and within the Kyoto Protocols.