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HR Biopetroleum buys out Shell’s share in Cellana algae biofuels venture

HR BioPetroleum, Inc. (HRBP), a Hawai’i-based and -founded renewable biofuels company, will acquire Shell’s shareholding in Cellana, a joint venture between Shell and HRBP. (Earlier post.) On 31 January 2011, HRBP will become the sole owner of Cellana, including its six-acre demonstration facility in Kona, Hawaii.

In 2007, HRBP and Royal Dutch Shell PLC, the international energy company, formed Cellana as a separate joint venture to build and operate a demonstration facility to grow marine algae and produce vegetable oil for conversion into biofuel.

To support the transition, Shell has agreed to provide short-term funding to advance and focus the algae technology development program. HRBP will further develop the technology at the Kona demonstration facility with the objective of first commercial deployment at the Ma’alaea site the company has selected on Maui, Hawai’i.

Comments

HarveyD

Does this mean that Shell has doubts about the viability or profitability of biofuels?

ejj

I think what happens all too often when these behemoth corporations swallow up smaller ones is that the independent motivated spirit disappears and a kind of lethargy sets in. Many smaller, independent companies competing against each other are better then a few major players. All the major oil companies should STAY AWAY from algae & other biofuels.

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