[ad#The Buzz Sponsor Ad]

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
Bioenergy-news.com reports that Volkswagen showcased its algae biogas-powered vehicle at a biogas project based in El Torno Chiclana, a town in south-west Spain. The test...
Benedict O’Donnell writes in the EU Research and Innovation magazine, Horizon, about research being developed on seaweed as a biological, environmentally friendly, sustai...
In Australia, the New South Wales Deep Green Biotech Hub (DGBH) has been launched as an enabling incubator environment to foster the development of algae as a cost effect...
Algae.Tec has announced that, with the completion of the US$1M injection by Gencore, their nutraceutical plant upgrade in Cummings, Georgia, is progressing ahead of sched...
Stavanger, Norway-based Skretting, a 100+ year-old leader in the manufacture and supply of aquaculture feeds for fish and shrimp, has announced that they are now offering...
Tom Lindfors writes in the New Richmond News about how the Roberts, Wisconsin, wastewater treatment plant – considered a minor utility designed to treat an average flow o...
Cellana, Inc., a leading developer of algae-based products for sustainable nutrition and energy applications, and PIVEG, Inc., a leader in high-specification ingredients ...
Algae Health Sciences, Inc., a subsidiary of BGG, has announced that it has submitted a New Dietary Ingredient (NDI) to the US FDA for its flagship product AstaZine® Natu...
The Energy Department (DOE) has announced the selection of six projects for up to $12.9 million in federal funding, entitled, “Project Definition for Pilot- and Demonstra...
Discovering which algae species is best suited to make biofuel is no small task. Researchers have tried to evaluate algae in test tubes, but often find lab results don’t ...
Fraunhofer-Gesellschaft reports in Science Daily that two algae species survived 16 months on the exterior of the International Space Station (ISS) despite extreme temper...
A Quebec-based company that specializes in the manufacturing and commercialization of marine and seaweed-based products for agriculture and horticulture constructed a new...