It can be grown in the oceans or ponds with carbon dioxide
generate by coal plants pumped into it.
http://www.msnbc.msn.com/id/12834398
/Algae stored in tubes are busy capturing carbon dioxide in this
reactor created by GreenFuel Technologies. A similar system will be
tested with a New York power company.
Around 40 percent of U.S. carbon dioxide emissions come from
fossil-fueled power plants.
GreenFuel will use a mini-bioreactor system to assess the technical
and economic viability of its technology, which would use algae to
consume CO2 emitted by the power plant. The algae could then be
converted into biofuel, NRG said.
In a press release, the partners described the process this way: