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It’s always exciting to see Iowa-based companies in the forefront of big changes, and we appear to have at least a couple of them in that position regarding the next generation of biofuels.

In Ames, Renewable Energy Group Inc. announced that it has developed an efficient way to turn algae – pond scum – into biodiesel fuel. In Shenandoah, Green Plains Renewable Energy Inc. is working along the same lines.

Sen. Tom Harkin said during a visit to Shenandoah: “I’ve looked at different companies around the United States, and we’ve got testimony about this, and quite frankly the promise of growing algae, which only takes sunlight and CO2, the oils that you get from them for diesel is just phenomenal.”

Other researchers are talking about using algae to produce ethanol. Algenol Biofuels Inc., based in Naples, Fla., reportedly has lined up an $850 million deal with a subsidiary of Mexican-owned BioFields.

Algenol said it expects yields of 6,000 gallons of ethanol per acre per year, and expects to increase that figure to 10,000 soon. Corn yields between 300 and 350 gallons per acre.

Where do you grow algae? According to one source, saltwater ponds in the middle of a desert would work just fine.

That sounds great for the world in general, but makes us wonder how Iowa could be part of it.

If nothing else, our entrepreneurs and university researchers should work to take a leading role in what seems like a terrific area for development.

We’ve cashed in on the products we already had – corn and soybeans. Now that the grain market has become a bit unstable, it’s time to do business the more aggressive way: spending money to make money.

Rather than think of ourselves as chained to grain, it’s time for the state to put money into other biofuel alternatives.

Algae never sounded like much of a resource before, but now it appears worthy of our attention.