[ad#The Buzz Sponsor Ad]

Algae.Tec and Lufthansa to Build Biofuel Facility

September 20, 2012
AlgaeIndustryMagazine.com

algaeteclogo300Algae.Tec Limited has announced that they and Lufthansa have signed a Collaboration Agreement for the construction of a large-scale algae to aviation biofuels production facility. The site will be in Europe, adjacent to an industrial CO2 source.

Lufthansa will arrange 100% funding for the project. Algae.Tec will receive licence fees and profits from the Project, which will be managed by Algae.Tec. As part of the Agreement, Lufthansa commits to a long-term offtake agreement of at least 50% of the crude oil produced at an agreed price

The agreement forms the base for a long-term cooperation between Algae.Tec and Lufthansa for the industrial production of crude algae suitable for conversion into aviation kerosene and conventional diesel fuels. The Agreement states: “Both parties will jointly develop a large-scale industrial algae oil production plant based on Algae.Tec’s technology and operating support, and Lufthansa’s offtake commitment for such algae oils.”

Algae oil produced by the Project shall fulfill at all times the EU Renewable Energy Directive (“EU-RED”) and shall be certified according to ISCC –Standard.

This agreement builds on and supersedes the MOU signed between the two parties in January 2012. It is subject to final Board approval of both parties and the final sign off for the algae oil conversion into aviation kerosene. A final feasibility report will be completed once the first site has been selected.

More Buzz…

HOME Algae Industry Jobs

Copyright ©2010-2012 AlgaeIndustryMagazine.com. All rights reserved. Permission granted 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
Dr. Tom Dempster works as a research professor – focusing on strain selection and development, biomass production, algal biofuels and high-value products, and air and was...
Agcore Technologies LLC, producer of Agcore Spirulina, has announced that their 2016 expansion project to support their growing aquafeed demand is in the completion proce...
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...
Forbes is running an interview with Bren Smith, an Ashoka Fellow and the founder of GreenWave, an organization dedicated to restoring oceans, mitigating climate change an...
Nicolas Sainte-Foie writes for Labiotech.eu about French startup Algopack manufacturing bio-based plastics made from brown algae. Founded by Rémy Lucas in 2010 and manage...
Joy Lanzendorfer reports for NPR that, as seaweed continues to gain popularity for its nutritional benefits and culinary versatility, more people are taking up seaweed fo...