[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
San Francisco biotech startup New Wave Foods aims to address the impact of overfishing, bycatch, water pollution, slave labor, an animal death toll in the trillions, and ...
In New Zealand is an internationally significant collection of microalgae cultures known as the Cawthron Institute Culture Collection of Microalgae (CICCM). The CICCM was...
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...
Judy Siegel-Itzkovich writes in the Jerusalem Post that Dr. Iftach Yacoby and his research team at Tel Aviv University, in Israel, have genetically altered microalgae to ...
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...
Jill Fehrenbacher writes in inhabitat.com that when it comes to design, Mother Nature has a lot to teach us. The field of Biodesign has emerged as an exciting new discipl...
Since hydrogen fuel cells produce electricity, we are increasingly thinking about hydrogen as a successor to crude oil. But where will the hydrogen come from? Its ecologi...
Cellana, Inc., a leading developer of algae-based products for sustainable nutrition and energy applications, and PIVEG, Inc., a leader in high-specification ingredients ...
Matt Stultz writes in MakeZine.com about Algix’ unique 3-D printing filament created with a combination of algae and Polylactic Acid (PLA) – a biodegradable thermoplastic...
Monica Jain of Fish 2.0 writes in National Geographic about how the algae brand is about to undergo an image makeover, and may soon seem flat-out glamorous — once again. ...
Algatech has announced the opening of Algatech Inc., a New York City-based subsidiary created to serve the North American market. The company has appointed Ken Seguine to...
The European Synchrotron Radiation Facility (ESRF) reports that an international team has discovered an enzyme which allows microalgae to convert some of their fatty acid...