Algae Biofuel Prospects Market: GCC Industry Analysis, Growth and Forecast Till 2020 by FMI

London, UK -- (ReleaseWire) -- 05/20/2015 -- Algae was first discovered as a fuel alternative in 1978 under the leadership of US president Jimmy Carter at a time when fuel prices were high, demand was high, and supply was low and depleting at the same time, the costs of exploring fuel fields and carrying out oil refining procedures were exorbitantly high and continued to skyrocket. Algae biofuel is an alternative fossil fuel that uses algae to generate Biodiesel, Biobutanol, Bio gasoline, methane, ethanol, hydrogen derived renewable fuel and jet fuel. Half of algae's composition by weight is a lipid oil. This has been targeted to convert it into bio diesel that will burn more efficiently than the conventional petroleum.