For more than a year, Dublin-based Independence Bio Products has been growing algae and researching ways to help "green" the environment and the economy.
The algae is farmed in Shadyside, in southeastern Ohio, 10TV's AJ Smith reported.
"It is very cutting edge stuff, but at the end of the day, all we are is farmers," said company spokesman Brad Lambert.
The company extracts oil from the algae to make fuel. It has already been tested as jet fuel and in the next decade, could be used to power planes, trucks and cars, Smith reported.
Protein is left after the oil is extracted from the algae and The Ohio State University is researching how that could be used as animal feed.
"We're taking CO2, waste CO2 that's going up in the atmosphere, we're growing algae and then creating animal feed and biofuel," Lambert said. "This is sort of the perfect business for the new economy."
Researchers said using the algae protein as animal feed could one day mean cheaper food for families and cleaner fuel in cars.
"Cheaper food available to the fish, fish will be healthier, and obviously this will probably increase the attractiveness of the fish for human consumption," said Ohio State Professor Konrad Dabrowski.
The company plans to expand its current farm to a 100-acre commercial facility that is expected to create 25 new jobs.
"I think it's huge right now to have a green business because what we're doing for our
environment and job creation," Lambert said. "It's the challenge of business to go out there and
create the jobs, be profitable and be green and we think we've accomplished that."
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