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
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...
In Phys.Org, Yu Yonehara notes the breakthrough research from the Tokyo Institute of Technology on the connection between early marine algae and the development of terres...
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...
Four years after the first optimistic calculations, the experimental cultivation of algae at Wageningen University in the Netherlands appears to be meeting expectations. ...
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 ...
Kyae Mone Win reports in the Myanmar Times that spirulina has been harvested from Twin Daung lake in Sagaing’s Bu Ta Lin township for over a decade, but climate change an...
Starting in the early 70s, agencies in the former USSR invested more than 20,000 person-years of research and development to produce Bio-Algae Concentrates (BAC) that hel...
Steven Mufson reports for the Washington Post that Algenol Biofuels estimates hackers have attempted to break into its computers 39 million times in four months this year...
The EPA has released the Annual Use of Pesticides in the U.S. Report. We now know that American farmers apply roughly a billion pounds of toxic chemicals intentionally in...
Analia Murias 
reports for fis.com that Chilean exports of products made from macroalgae generated a total of $195 million US in the first seven months of 2014, according...
U.S. farmers and biofuels makers are watching for the Environmental Protection Agency’s (EPA’s) final decision on the 2014 Renewable Fuel Standard rules, which will set t...
Arizona is taking advantage of its open land and ample sunshine to assume a leadership position in the algae biofuel field. The state is home to two national algae testbe...
With their new CO₂ processing-platform called AstaCos, AlgaeBiotech can produce waxy particles of only 50-100 µm in size with a loading of 25% astaxanthin oleoresin. The ...
A team of Michigan State University algae researchers have discovered a cellular "snooze button" that has the potential to improve biofuel production and offer ...
Algix, parent company of Solaplast, will be inaugurating their algae-to-plastic facility in Meridian, Mississippi, on November 14, 2014. Solaplast's facility will be focu...
Renewable fuels company Muradel has launched Australia’s first integrated demonstration plant to sustainably convert algae into green crude, as a first step towards a com...
Iran-based Qeshm Microalgae Biorefinery Co. (QMAB) has launched a biofuel being marketed as BAYA®, produced from a species of Nannochloropsis (strain 6016) isolated from ...
Tess Riley writes in TheGuardian.com about how spirulina may be able to combat malnutrition in developing countries. Spirulina is one of the oldest life forms on Earth, c...