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Umm...that is if all the kinks can be worked out. But hey, it's a great concept that deserves a chance.
Scientists produced genetically modified cyanobacteria that convert sunlight and CO2 into glucose, sucrose, and cellulose that are readily convertible into ethanol. If development goes well, algal ethanol (Alganol?) can be produced using much less land and far fewer resources than corn-based ethanol production.
Hat tip: Endangered Spaces Tweet
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ETHANOL-PRODUCTION WITH BLUE-GREEN-ALGAE
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