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
Don Willmott writes in Huffington Post about Nevada-based Algae Systems, which has built a test plant on Alabama's Mobile Bay to not only turn algae into diesel fuel but ...
James Goodman writes in the democratandchronicle.com about Jeffrey Lodge, an associate professor of biological sciences at Rochester Institute of Technology, who knows wh...
Hammenhög, Sweden-based agribusiness Simris Alg has announced the launch of its first consumer products. The algae farmers’ exclusive omega-3 supplements and superfoods w...
Sami Zaatari writes for the Middle East’s Gulf News that Abu Dhabi’s coastal sabkhas – the Arabic phonetic translation for salt flats – hold great potential for solar pow...
Simris Alg, a pioneering agribusiness producing omega-3 from farmed algae, has been declared one of Sweden’s 33 hottest companies in new technology. The renowned list is ...
Algae.Tec has announced a collaboration agreement for the commercialization of its algae production technology with Larimar Energy SRL, of the Dominican Republic. The ene...
Tubular glass photobioreactor (PBR) systems protect algae from harmful environmental factors, keeping strains safer from bio-contamination. The glass tubing itself can be...
Scientists from the J. Craig Venter Institute (JCVI), a not-for-profit genomic research organization in La Jolla, California, have published a paper outlining new synthet...
Japan’s IHI Corporation has announced that they have succeeded in stably cultivating a modified high-output algal strain in a 1,500 square meter open pond in Kagoshima, K...
While aquafarmers in Maine have been harvesting seaweed for nearly 80 years, for a variety of uses and products, in recent years wild harvests have not been able to meet ...
Natacha Tatu writes in Worldcrunch about a 72-year old French chef who has taken on the challenge of bringing spirulina to the malnourished youth of the Central Africa. F...
Tom Redmond and Yuko Takeo report for Bloomberg.com that, after 10 years of developing algae as a nutritional supplement generating $37.8 million in annual revenue, Japan...
Scientists have been investigating the likely future impact of changing environmental conditions on ocean phytoplankton, which forms the basis of all the oceans' food cha...
Using a newly devised technique, researchers at the Scottish Association for Marine Science (SAMS) have examined microalgae strains in the Culture Collection of Algae and...
Astaxanthin has been widely used in the aquaculture industry for pigmentation of salmon, trout and shrimp; used for its antioxidant and other health benefits in the nutra...