Univenture says its AlgaeVenture Systems unit has demonstrated the process to the satisfaction of its funding sources.
``For nearly 40 years, it has been widely accepted that if the cost of removing, harvesting and dewatering algae could be reduced to $50 a ton, algae could become a significant source of fuel,’’ says Ross Youngs, chief executive of Univenture.
``We have demonstrated a truly disruptive technology that reduces that cost by more than 99 percent - from $875 per ton to $1.92
