Visit  cricatalyst.com!Nexus — Leaders in Greenhouse Systems Integration Check out more of The Buzz

ALGA signs $5 million financing deal

July 23, 2013
AlgaeIndustryMagazine.com

Algae International Group, Inc. (ALGA), a development stage renewable energy company located in Addison, Texas, has signed a $5,000,000 Reserve Equity Financing agreement with AGS Capital Group, LLC, a US-based specialist investor group, to enable growth with financing for its algae cultivation and development project in California. The company is seeking to develop biofuel from algae utilizing a process that combines methane, CO2, fuel cells, nitrates, phosphates, sunlight and a specialized press to remove biomass and create HRD and HRJ fuel.

“The Reserve Equity Financing is a long-term strategic financing partnership that places ALGA in control of how and when we raise equity, minimizing any potential dilution or disruption to our capital structure,” said John Potter, ALGA President. “ALGA has the discretion to periodically sell common shares at a (10%) ten percent discount to the market when the prices are attractive to us. That means we decide when the funds are raised and how the funds are utilized. AGS Capital Group is a great long-term partner that helps us reduce financing uncertainty and allow management to focus on achieving our business objectives. The $5,000,000 equity financing should provide us with sufficient capital to complete our initial algae project in Tulare. CA.”

Allen Silberstein, Chief Investment Officer of AGS Capital Group, LLC, said, “We look forward to helping ALGA grow by providing them the funding for their initial algae project and for the acquisition and development of additional algae properties into the future.”

More Buzz…

HOME Algae Industry Jobs

Copyright ©2010-2013 AlgaeIndustryMagazine.com. All rights reserved. Permission required to reprint this article in its entirety. Must include copyright statement and live hyperlinks. Contact editorial@algaeindustrymagazine.com. A.I.M. accepts unsolicited manuscripts for consideration, and takes no responsibility for the validity of claims made in submitted editorial.

From The A.I.M. Archives

— Refresh Page for More Choices
Heliae, SCHOTT North America and Arizona State University (ASU) have announced a partnership to bring Heliae’s algae production technology to ASU’s algae testbed facility...
Natural carotenoid specialists Piveg Inc., with production facilities based in Celaya, Central Mexico, has announced immediate availability of natural astaxanthin materia...
University of Adelaide researchers are using nanotechnology and the fossils of diatoms to develop a novel chemical-free and resistance-free way of protecting stored grain...
Algae.Tec Ltd has received its first purchase order from Reliance Industrial Investments and Holdings Limited (RIIHL), in connection with the arrangements announced on Ja...
In a global scenario where increasing attention is being directed towards issues of sustainability and limited food supplies, algal sources offer immense scope for the ra...
Valensa International and Contract Biotics have announced that Contract Biotics has started construction of an additional six acres of algae production units at the compa...
Technical standards define critical terms and metrics to add wisdom for the algae industry. Agreement among science and business leaders represents possibly the most diff...
Algae is being discussed at the heart of EXPO Milano 2015, the international event that has existed since 1851, spawning world shaping themes and icons, such as the Eiffe...
By sending algae into space, a U.S. Department of Agriculture (USDA) scientist and his team will be able to study some of the key mechanisms that control plant growth and...
The Algae Biomass Organization (ABO) released the following statement calling on the EPA to include Carbon Capture and Utilization strategies in rules proposed June 2, 20...
A new, outdoor system at the University of Dayton Research Institute has been producing a high volume of algae since its installation in the summer of 2013, even through ...
Jamie Radford writes in the Illawarra Mercury that Pia Winberg, from the University of Wollongong, believes that the South Coast of New South Wales, Australia (NSW) is in...
Gilbert, AZ-based Heliae has announced a partnership with Sincere Corporation, a Japanese waste management and recycling company, to form a joint venture and develop a co...
Starting in the early 70s, agencies in the former USSR invested more than 20,000 person-years of research and development to produce Bio-Algae Concentrates (BAC) that hel...
A recent discovery in the multicellular green alga, Volvox carteri,has revealed the origin of male and female sexes, showing how they evolved from a more primitive mating...
Following a request from the European Commission, the European Food Safety Authority (EFSA) Panel on Dietetic Products, Nutrition and Allergies (NDA) was recently asked t...
Channelnewsasia.com reports on three young Spaniards who harvest seaweed, a culinary delicacy, as a way for them to stay out of Spain’s troubled financial waters. 35-year...
Chase Ezell writes in Earth911.com about the irony of Algenol’s biggest friction source on the way to marketing their carbon reducing algal-based ethanol being — the EPA ...