Alltech President Pearse Lyons said Monday that his company will announce in August the creation of a large algae factory in Kentucky to make bio-fuel and research new approaches for mitigating climate change.
Lyons declined to give the location or other details of the facility because the deal is still being negotiated. He said it would be the nation's second-largest algae factory, after one in South Carolina.
Lyons told about 1,500 people from 50 countries who came to Lexington Center for Alltech's 26th annual International Animal Health and Nutrition Symposium that algae shows great promise for helping humans cope with two big problems: energy and climate change.
That's because one acre of algae can produce 5,000 gallons of bio-fuel per year, and one ton of algae can absorb two tons of carbon dioxide, converting it to oxygen and carbohydrates, Lyons said.
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