PetroAlgae Takes Its Message of Commercialization of Next Generation Biofuels to World Biofuels Markets 09

BRUSSELS - At World Biofuels Markets (WBM) 09, the scene last year of mass protests
against corn and soy based biofuels, PetroAlgae (OTC Bulletin Board: PALG)
will this year help demonstrate the near-term commercial viability of
algae-based biofuel. In contrast with corn and soy, algae does not compete
with the food supply, actually consumes C02 (2.2 times its own weight),
leaves no toxic waste during the harvesting process, is essentially carbon
neutral and is 25x to 100x more productive than other crop feedstocks.
PetroAlgae can replace the entire world’s supply of diesel on a very small
fraction of the Earth’s landmass.

While the benefits of algal fuel are clear, commercialization has so far
been unattainable. While most algae companies to date have focused almost
exclusively on the science of algae, PetroAlgae has focused on developing a
turnkey modular construction that can be replicated on a massive scale
globally. The PetroAlgae process ensures consistency and efficiency, which
directly leads to lower costs.

“While the final verdict has not yet been issued on the long-term
prospects of the algal fuel market, we have reached nearly every plateau
we’ve aimed to hit,” said John Scott, Chairman of PetroAlgae. “We’ve never
been more confident in our business model and ability to compete with other
biodiesel crop feedstocks. We expect to have a fully functioning commercial
scale pilot facility operational in the coming months.”

PetroAlgae can be found at booth 40 at World Biofuels Markets 09.
PetroAlgae Chairman John Scott will present during the closing plenary
session on 18 March, while chief marketing officer Fred Tennant will
participate in a panel on algae as the ultimate biomass source on 16 March.
PetroAlgae was nominated for this year’s WBM Sustainable Biofuels Technology
Award in the technology supplier category. Winners will be announced on 17
March at a gala reception.

About PetroAlgae

PetroAlgae is commercializing next generation technologies to grow and
harvest oil and animal feed from algae. A cost-effective substitute for
petroleum oil, this remarkable process creates a renewable, carbon-neutral
feedstock source for biodiesel. PetroAlgae uses naturally selected strains of
micro-algae to produce rapid growth and high oil yield. Our algae-cultivation
bioreactor system can be built on a massive commercial scale, creating the
opportunity to produce a cost effective alternative to fossil fuels and
high-protein animal feed while absorbing CO2 from green house gas emissions.
Expecting to begin commercial deployment in 2009, we are engaging with
licensing prospects throughout the world. PetroAlgae offers a path to
sustainable and clean energy independence through a process that is scalable
globally.

Source: PetroAlgae

European Media, Dragan Barbutovski, Weber Shandwick Brussels, +32-2-894-9022, mobile: +32-498-982-984, dbarbutovski at webershandwick.com; US Media, Katie Hays, Weber Shandwick Seattle, +1-425-452-5428, khays at webershandwick.com