key players in New Zealand Biofuels Market: AECOM, AES, Ag Research, Anchor Ethanol Fonterra, Aquaflow Bionomic Corporation, Biodiesel New Zealand, Carbonscape, Cawthron Institute, Ecodiesel, Flo-Dry Engineering, GNS Science, IPL/Biofuel Testing New Zealand, Lanzatech and many more (Bioenergy Association of New Zealand, 2007). These companies have simple and basic idea and that is to help the environment by relying on the capability of technology to address issues concerning global climate change. These companies have considered innovating possibilities on how to come up with biofuels that are cost-effective, renewable and sustainable aside from their great contribution to minimise pollution and emission of greenhouse gases into the atmosphere. However, there are various concerns in this area which are discussed in this paper. The production of biofuel as an alternative to fossil fuel is a remarkable issue to be investigated further. For instance, it is clear that companies that continuously produce biofuels have wonderful business opportunity amidst the climate change but they are also faced with other global economic and social concerns.
Biofuel is known to affect the economy by indirectly creating impact to other sectors or industries. It is believed that there was an upward spiral increase for biofuel production in international trade and investment in the last few years, but it was linked to 2007 and 2008 global food crisis (Timilsina & Shrestha, 2010). Eventually, there was a problem on this idea in the first place knowing that the production of biofuel will need enough supply of food-based raw materials. Thus, non-food based materials are now widely explored for this concern. The New Zealand energy strategy and policy is a gateway to discover technology that could help the environment especially on the reduction of carbon emission and other greenhouse gases. For instance, there is a new study in New Zealand revealing the potential of growing algae to