[ad#The Buzz Sponsor Ad]

Algae.Tec Planning to Raise $600 Million by 2015

September 25, 2012
AlgaeIndustryMagazine.com

algaeteclogo300Bloomberg News is reporting that Algae.Tec Ltd., Australian-based producer of algae cultivation systems, is planning to raise as much as $600 million to build up to six algal fuel production factories by 2015, in Brazil, Sri Lanka, Australia and the U.S.

“We will be using different project finance structures for all of these projects and they’ll all be roughly $100 million,” Chairman Roger Stroud told Bloomberg by phone from Sao Paulo.

Algae.Tec on Sept. 19 disclosed it was working with Lufthansa, Europe’s second-biggest airline, to build a factory in the south of the region, and expected to begin producing fuel in early 2015. The airline will contribute to funding for the project and buy at least half of the fuel produced at an agreed price.

Algae.Tec declined to disclose the expected cost of the European development, saying it was subject to a feasibility study. The company also began talks with Brazilian partners to build one or two factories in the country, Stroud said.

The company is also studying the possibility of a plant in Sri Lanka, as part of its joint venture with a unit of Holcim Ltd., and is “far along” in feasibility studies for sites in the southwestern U.S. and Australia.

More Buzz…

HOME Algae Industry Jobs

Copyright ©2010-2012 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
Northwestern University researchers have developed a quantitative tool that might help bring back coral from the brink of extinction. The novel algorithm could help asses...
Prior posts highlight the value proposition for building a Green Friendship Bridge of algae microfarms in lieu of 1%, (13 miles) of Donald Trump’s proposed border wall wi...
Kuo Chia-erh reports for Taipei Times that Taiwan Cement Corp, the nation’s leading cement supplier, has announced plans to expand its microalgae farm, which produces ast...
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 ...
For plants and algae that carry on photosynthesis, light can be too much of a good thing. On a bright, sunny day, a plant might only be able to utilize 20 percent or less...
Jason Smith reports for undercurrentnews that Kentucky-based Alltech is willing to invest in overseas algae production plants closer to its feed customers if demand for i...
Essen, Germany-based Evonik, and Royal DSM, headquartered in Kaiseraugst, Switzerland, have announced their intention to establish a joint venture for omega-3 fatty acid ...
Diane Stopyra writes in Salon.com that a growing number of coastal states around the country are undertaking large-scale seaweed farming projects. While farms are underwa...
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. ...
Memory Maninga reports for Zambia Daily Mail that in Mansa, the capital of the Luapula Province of Zambia, spirulina is being grown in ponds in the communities because of...
A Bay Area company has patented a group of three single-celled, algae-like organisms that, when grown together, can produce high quantities of sugar just right for making...
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...