[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
The GNT Group, a market leader in using algae as natural ingredients for color, has begun construction of an additional spirulina plant at its headquarters in Mierlo, the...
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...
In New Zealand is an internationally significant collection of microalgae cultures known as the Cawthron Institute Culture Collection of Microalgae (CICCM). The CICCM was...
Global Algae Innovations, with headquarters in San Diego, California, and cultivation/production facilities in Lihue, Hawaii, have introduced a new algae harvesting syste...
Portuguese microalgae producer, Allmicroalgae Natural Products S.A., has moved to the next stage in development of new production technologies to grow Nannochloropsis oce...
The University of Kentucky (UK) Center for Applied Energy Research’s (CAER) Biofuels and Environmental Catalysis Group has received a $1.2 million U.S. Department of Ener...
For algal biofuels to compete with petroleum, farming algae has to become less expensive. Toward that goal, Sandia National Laboratories is testing strains of algae for r...
Sarah Karacs reports for @CNNTech that Japanese firm Euglena has been cultivating a type of algae for use in food and cosmetics. But it sees a range of other potential us...
Marlene Cimons, nexusmedianews.com reports that researchers at the University of California San Diego and Sapphire Energy have successfully grown a genetically engineered...
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...
David Erickson writes in the (Montana) Missoulian that Clearas Water Recovery, a Missoula tech company formed eight years ago, has developed a patented process to use alg...
Carlsbad-based Surftech, a stand-up paddle (SUP) and Surfboard manufacturing company has announced its collaboration with BLOOM, a materials development company, to devel...