As the world is looking for solutions to address climate change and reduce gas emissions for a net-zero economy, a new competitor has joined the race— algae.
The diverse group of tiny organisms might be the answer to the emerging fossil fuel energy crisis.
The term “algae” covers a range of different organisms that are aquatic and photosynthetic.
This means they grow using sunlight, water, and carbon dioxide.
There are thousands of types of algae, including seaweed, microalgae, and plankton.
To reach a net-zero economy, alternative energy sources to produce products like food, fuel, and chemicals need to arise that aren’t reliant on fossil fuels.
Algae is becoming a promising, viable alternative—as it’s easy to grow, abundant, and doesn’t destroy other resources.
For potential entrepreneurs, like people studying a Master of Business Administration Online, there’s a New South Wales accelerator program focused on advancing the development of algae-based technology.
This program is known as the ‘Green Light Accelerator’.
It will last 12 weeks, running from July to October—with successful teams receiving $10,000 in funding to support the development of algae-based biotech solutions, products, and services.
The Green Light Accelerator program is aiming to bring NSW to the forefront of algae-based innovation in Australia. They want to support the innovation of optimising algae growth, and delivering algae-based products and services.
Successful applicants will also receive access to a research membership with algae experts from the University of Technology Sydney (UTS), a six-month membership to UTS Startups, and opportunities to network.
Application to the Green Light program is open to startups or SMEs with an ABN registered in NSW. The project or business idea needs to involve an algae-based product or service, with priority selection given to ideas with a sustainability aspect.
Previous program participants include Phycologic, a biotech startup that developed a product called ‘Relocatable’—a giant cylindrical lava lamp that filters indoor air spaces using algae and operates at less than $1 a day.
The potential of algae
Director of the Australian National Algae Culture Collection, Dr Anusuya Willis, says algae has potential as a sustainable alternative, but requires more research and development before it’s fully realised.
“The future of algae needs to be tempered because of a lack of fundamental research. None of the solutions will happen quickly, but we need to make progress,” she says.
The executive director for Climate Change Cluster, Professor Peter Ralph, says “algae holds immense potential for decarbonising numerous industries”.
Professor Ralph also mentions the growing recognition and interest in algae, including in sectors such as food and beverage, agriculture, and cosmetics.
In particular, the biofuel and energy sector is looking at algae as a renewable and sustainable fuel for transport. It’s possible to use biomass, such as algae, as an alternative to fossil fuels.
Typically, biomass takes up valuable agricultural land — which is why algae is promising. It’s a space-efficient biomass option, which produces a high yield without taking up much space or land.
Algae is already being used in some industries, like farming, where it’s used as a supplement for livestock. For instance, FutureFeed offers an algae-based supplement that is created from a type of native seaweed (Asparagopsis).
This supplement has been proven to reduce methane emissions, one of the leading factors contributing to climate change, by more than 80 per cent in cows, sheep, and goats.
The future of algae technology
There are over 50,000 documented species of living algae, and approximately 10,000 living fossil species. Each species of algae is unique, adapted to specific ecosystems, and offers potentially different applications.
So, the future is looking bright for algae-based technology as researchers have thousands of different types of algae to work with, all potentially offering different benefits and uses.
It’s only a dream now, but one day driving cars powered by algae-based fuel might be a reality. It’s a renewable energy source that, quite literally, grows out of thin air.
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