Algenol Biofuels to distribute ethanol made from algae

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FORT MYERS, Fla.- A Florida company hopes to make gas prices cheaper by distributing a locally-made alternative to fossil fuels.

Algenol Biofuels announced it’s teaming up with Protec Fuel, based in Boca Raton, to distribute ethanol made from algae.

The company received $10 million from Lee County taxpayers a few years ago to help move the plan along. Now, it’s ready to put cheaper fuel into the engines of vehicles that can take ethanol.

“When we started this thing nine years ago, we had almost 100 competitors. Now it’s just us, all the algae players who made fuels are all gone,” said Algenol CEO Paul Woods.

The company says it considered building a large, manufacturing plant in Lee County, but changed its mind after a dispute with an elected official. Algenol is now looking at central Florida for an area to place the plant and employment opportunities.

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