Well, it’s finally here, the first commercially available biofuel fueling stations where your average Joe can put a renewable gasoline right into their tank. Propel Fuels has stations in California and Washington and will be rolling out the algae fuel from Solazyme, in addition to biodiesel and E85 (85 percent ethanol, 15 percent gasoline).
More importantly for the company, it has just raised $21 million in equity and debt as it attempts to raise its number of fueling stations to 200 around the U.S.
What I’m most interested in is what algae fuel will cost. Will it be priced close to regular gasoline? Will consumers trust it or will it become the fuel of choice for the more environmentally conscious (though I always wonder if the die hard environmentalists would rather have an EV or more likely, be riding their bikes). But for now, it’s a small incremental step to seeing if we can get biofuels into the general marketplace.