Visit  cricatalyst.com!Nexus — Leaders in Greenhouse Systems Integration Check out more of The Buzz

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
University of Adelaide researchers are using nanotechnology and the fossils of diatoms to develop a novel chemical-free and resistance-free way of protecting stored grain...
The University of Greenwich is leading a €10m international project, called the ‘D-Factory,’ to build a biorefinery to develop the microalga Dunaliella as a sustainable r...
Algae.Tec Ltd has received its first purchase order from Reliance Industrial Investments and Holdings Limited (RIIHL), in connection with the arrangements announced on Ja...
In a global scenario where increasing attention is being directed towards issues of sustainability and limited food supplies, algal sources offer immense scope for the ra...
Algatechnologies (“Algatech”), Israel, has announced a more than 100% expansion of its production capacity of AstaPure® brand natural astaxanthin. This doubling of capaci...
Students from three Arizona universities will demonstrate their algae research projects at an Innovation Showcase May 1, in Arizona State University’s Sun Devil Fitness C...
Algal oil represents one of the significant segments within the omega-3 polyunsaturated fatty acid (PUFA) ingredients market. Specifically, docosahexaenoic acid (DHA) is ...
By sending algae into space, a U.S. Department of Agriculture (USDA) scientist and his team will be able to study some of the key mechanisms that control plant growth and...
The Algae Biomass Organization (ABO) released the following statement calling on the EPA to include Carbon Capture and Utilization strategies in rules proposed June 2, 20...
The Guardian reports that Prince Edward Island (P.E.I.), Canada-based Solarvest has created an inventive system utilizing a specific algal strain to grow and produce EPA ...
Gilbert, AZ-based Heliae has announced a partnership with Sincere Corporation, a Japanese waste management and recycling company, to form a joint venture and develop a co...
Algae Industry Magazine is pleased to announce a new Algae 101 series by our popular blogger, Mark Edwards, Professor, Arizona State University. The Algae Solutions to Na...
Perth, Western Australia-based Algae.Tec Limited has announced that the Reliance Group has converted the first tranche of options following the positive progress achieved...
In an effort to propel the algae industry forward, the Algae Testbed Public Private Partnership (ATP3) offers a series of hands-on specialized workshops suited for partic...
Matthew Carr was recently named executive director of the Algae Biomass Organization (ABO), the leading trade association for the algae industry. His presence will soon b...
Phys.Org reports that scientists Jolanda Verspagen and Jef Huisman of the University of Amsterdam, The Netherlands have concluded that rising CO2 concentrations in the at...
Oregon State University researchers are combining diatoms, a type of single-celled photosynthetic algae, with nanoparticles to create a sensor capable of detecting minisc...
Chase Ezell writes in Earth911.com about the irony of Algenol’s biggest friction source on the way to marketing their carbon reducing algal-based ethanol being — the EPA ...