Solarvest gets government funding for hydrogen from algae project
(ADPnews) - Nov 18, 2010 - Canadian alternative energy firm Solarvest Bioenergy Inc (CVE:SVS) said on Tuesday it had received nearly CAD 378,000 (USD 369,000/EUR 273,000) in government funding to develop for commercial-scale production its technology of hydrogen generation from algae.
Solarvest's investment in the project is CAD 235,000.
Solarvest has found a way to produce hydrogen from algae in a continuous cycle in a single vessel, thus being able to generate more hydrogen than existing systems. The produced hydrogen can be used as a "gas" or to generate power. With the Canadian government's support, the company will now explore large-scale opportunities for hydrogen production.