Green Dragon Petroleum

Producing bio-crude oil from algae

Pitch

Revolved around the notion of sustainability, I plan to produce crude oil from algae. This crude oil, compatible with fossil crude oil, can be further refined into petroleum, aviation fuel and related fluids needed for fuel combustion. This carbon neutralizes the process of fuel combustion, which is responsible for at least 40% of human derived CO2 emissions.

The algae will be grown with best known practises and treated in a high heat and a high pressure process which will transform the wet algae into crude oil, gas, water and nutrients. While the crude oil is sold and portion of the gas, the rest can be reused in the algae production.

The crude oil will be sold to oil refineries with the compatitive advantage of being carbon neutral as well as not containing polluting chemicals such as sulphur. This both makes the refinement process cheaper and the refined products highly valuable

Quick facts

  • 2015 Participant
    Year of participation
  • Iceland
    Country

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Team

  • Elis Svavarsson, Founder

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