I don't know about the company, but it's been made clear by other companies that algae doesn't currently have the capacity to create enough fuel per area to even offset gas usage in this country... it would have to be grown in towers which maximized surface area, and genetically engineered to create something like 80% of it's own body weight in oil (as food storage).
Those figures were used for creating bio-diesel from Algae, though. Someone is working on the surface maximized tower thing, as well... can't think of the name, but it was on "Brink".
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