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<\/p>\nSINGAPORE \u2013 A palm-oil alternative from microalgae developed by Nanyang Technological University (NTU) will be produced in bulk through a partnership with Eves Energy, a Singapore company specialising in scaling up sustainable innovations that is eyeing a listing on Nasdaq in the United States.<\/p>\n
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The production facility spanning 3,000 sq km will be located on Indonesia\u2019s Seram Island, the largest and main island of Maluku province, said Eves Energy chief executive officer and president Lanz Chan.<\/p>\n
The company will start with 400,000 tanks that can produce 1.2 million tons of microalgae oil and another 1.2 million tonnes of algae cake by the end of 2026.<\/p>\n
Algae cake, a by-product of the oil extraction, is a nutrient-rich food product that can be used to beef up protein content in burger patties, for instance.<\/p>\n
Based on the initial production volume, the project will be able to remove an estimated 2.6 million tons of carbon dioxide (CO2) from the atmosphere. This is due to the microalgae\u2019s ability to capture CO2 and emit oxygen through photosynthesis.<\/p>\n
The facility also has the potential to reduce haze in the region, said Dr Chan. Unlike the manufacture of the microalgae oil, the haze-generating slash-and-burn method is used to clear land for plantations in Indonesia, the world\u2019s biggest producer of palm oil.<\/p>\n
Eves Energy\u2019s facility can also provide farmers with an alternative source of income, said Dr Chan.<\/p>\n
He added: \u201cIndonesia has been trying its best to eradicate the slash-and-burn method in agriculture. But it\u2019s difficult to monitor. The burning of peatland is a very ancient way of providing natural fertiliser to grow crops.\u201d<\/p>\n
He pointed out that microalgae can absorb 400 times more CO2 than trees, are a good source of edible oils and protein, and can double in mass every few hours. Despite such well-established benefits, previous attempts to create a similar process to grow microalgae and extract oil from them have been costly.<\/p>\n