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Melbourne, FL-based PetroAlgae has filed an S-1 document with the Securities and Exchange Commission in the hopes of raising $200 million from an initial public offering. Unfortunately, despite the promise that algae shows as a feedstock for biofuels, PetroAlgae doesn't appear to have much to offer.

We never really knew that plants sweat. Nor were we aware that when some of them sweat, it's good ole biodiesel pouring out. If that's the case, then let's turn up the heat and get rewarded with all the fuel we will ever need. A little-known American company called Joule Unlimited claims that perspiration from a new type of gene-altered single cell organism actually contains usable biodiesel fuel. To prove its case, Joule will open a test pilot plant in Texas, a region capable of making anything

One of the more promising sources of biofuels in recent years has been algae. While there are a number of small scale tests along with some larger scale commercialization projects, the UK's Carbon Trust wants to accelerate the process. The Trust has launched an Algae Biodiesel Challenge with goal of making algae-sourced liquid fuels commercially viable by 2020. The first phase of the £30 million project will focus on research and development including finding the best strains of algae, yie

Algae and second-generation biofuels hold a lot of promise to getting the U.S. off of petroleum-based fuels. This certainly isn't a secret to anyone - if you need some background, you can check out our coverage of the Jan Kreider's talk at the recent Sustainable Mobility Seminar - but algae are not a huge part of the national energy dialogue.

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