Australia’s AAT Strikes $100M Algae Deal with China
August 24, 2012
ustralian-owned Advanced Algal Technologies (AAT), a bio-technology company specializing in algae cultivation and production, has signed a joint venture agreement with Chinese company Fuzhou Xiangli Enterprise Management Consulting Co. consisting of a 20-year license to produce 500 patented Algae Farming Conveyor Modular Systems per year.
The $100 million dollars invested into the Australian Joint Venture company will establish the Chinese manufacturing facilities to produce the modular systems, which will be placed in areas where carbon dioxide emissions are at their highest levels in China.
“China is reported to be the world’s 4th largest carbon dioxide emitter,” said Kevin Murphy, CEO, AAT. Our modulars will not only produce algae for many health and science benefits, but will have a major benefit to the environment. The plan is that the modulars will be placed next to major manufacturing companies in China, which will benefit the companies, allowing them to produce more products over time due to a reduction in their carbon dioxide emissions – and benefit the environment at the same time.”
The AAT conveyor system produces high oil content algae for use in bio-diesel production and algae-based high protein products, in an insulated modular temperature-controlled environment. The modular uses a unique PVC fabric on a belt that is designed to maintain moisture and increase surface area for mass algae cultivation. The system will sequester 7.5 tons of carbon dioxide per day during the growth of the algae.
Under these conditions, according to AAT, algae can double in mass every twenty-four hours and grow at a density of 400 grams per square meter, per day. The algae are then easily harvested, with the removal of algae directly from the growing fabric surface.
“The principle of our technology is simple,” said Joseph Takacs, chief engineer at AAT. “Advanced Algal Technologies approach to the Algae Farming Conveyor Modular system gives us the ability to have complete control over the cultivation stage and its environment for a maximum algae yield. Carbon dioxide emissions can be put into good use and every by-product of the conveyor system offers real, tangible benefits.”