http://en.wikipedia.org/wiki/Algae_fuel#Algal_strains 
mentions Sargassum, with a link to this recent article:
http://www.taipeitimes.com/News/taiwan/archives/2008/01/12/2003396760 

Summary: Sargassum is a high growth species ("10 times the output volume of 
gracilaria"), convertible to ethanol.

But they don't say if this applies to the floating variety 'Sargassum 
bacciferum' we are interested in for the Gyre farming scheme:

     Gulf weed (Bot.), a branching seaweed (Sargassum  bacciferum
        , or sea grape), having numerous berrylike air
        vessels, -- found in the Gulf Stream, in the Sargasso Sea,
        and elsewhere.
        [1913 Webster]
--
Michel

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