redOrbit: Dow Chemicals announced on Monday plans to join Algenol Biofuels in a project to use algae and carbon dioxide to produce ethanol fuel. The location of the facility will Dow’s Freeport, Texas site. The collaborative project will use Algenol’s technology that uses carbon dioxide and saltwater, supplied to algae in photobioreactors, to produce the biofuel. If the process works, Algenol thinks that it might profitably marry a different type of plant, such as a coal burning …