Well, is this cost-effective (or could it be made to be) with shale oil?
If not, then it stands little chance of replacing that source. No matter how “green” the biological source of petroleum may be, there is a cost-benefit ratio that has to be respected.
This process uses 'wet algae'; that's the major difference. Using the 'reactor' is akin to cooking your chicken in an oven vs. a pressure-cooker; much greater efficiency. I believe Sapphire Energy is also using the 'wet' process, but that's not been revealed that I can find.
My 'geek' was stimulated by this research...fascinating.