Loxley Plc is spending 60 million ($1.89 Million dollars) baht to build a pilot plant for algae-based biofuel, possibly in Ratchaburi province.
Although algae-based biofuel costs 30% higher to make than palm oil-based fuel, the cost will likely drop in the future. The plant will start full operation next year and if business becomes viable, a commercial-production plant may be built within 2014 with a total investment cost of about one billion baht.
Loxley targets daily algae production at 90 tonnes per day, which will translate into 10 tonnes of biofuel a day. Full text here: