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