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Algenol Biofuels Inc. Establishes FGCU Scholarship Fund
1/4/2012

FORT MYERS, FL - The Florida Gulf Coast University Foundation has received a $250,000 pledge from Algenol Biofuels Inc. to create the Algenol Biofuels Science, Technology, Engineering and Mathematics (STEM) Scholarship Fund.

Juniors and seniors at the University who are majoring in biology, biotechnology, chemistry, environmental engineering and mathematics are eligible for the scholarship.

"STEM education has long been a priority at FGCU - from our academic programs to sponsored outreach from our Whitaker Center for STEM Education," said FGCU President Wilson G. Bradshaw. "This generous gift from Algenol Biofuels to create a scholarship allows the University to reaffirm its commitment to helping deserving students realize their dreams of earning degrees in the science and technological fields."

FGCU graduated 264 students in STEM subjects in 2010-2011, up from 58 in 2006-2007.

"Algenol Biofuels is committed to developing our future scientists and engineers," said Paul Woods, Founder and Chief Executive Officer of Algenol Biofuels Inc. "As a premier industrial biotechnology company using enhanced algae to produce ethanol from carbon dioxide for under a $1 per gallon, we are a prime example of how advanced biology and innovative engineering can drive economic growth and job creation in our community. We have long benefited from a partnership with FGCU for our STEM needs, drawing upon current students as interns and hiring graduates for full-time positions. We are honored by this opportunity to further promote FGCU's growing STEM initiative."

STEM education transforms the typical teacher-centered classroom through a curriculum that is driven by problem-solving, discovery, and exploratory learning. It requires students to actively engage in and analyze a situation to formulate and implement solutions.

Studies show that students benefit from STEM programs because they teach independent innovation and allow students to explore subjects in greater depths. STEM programs let the students put the skills that they have learned to use. Skills that they need to thrive in the global economy.

For more information, media representatives should contact Senior Director of Advancement Linda Lehtomaa at (239) 590-1071.

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