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SEE ALGAE Sells Algae Farm to Brazil’s Grupo JB
June 25, 2012
ienna, Austria-based SEE ALGAE Technology GmbH (SAT), a leading developer of infrastructure for the commercial production of high-quality algae, has announced that it has signed an agreement to supply and install a one hectare “dual-use” algae production plant for Brazil-based Grupo JB (“JB”), one of the country’s leading bioethanol producers. Once operational, this farm will primarily be utilized to produce algae biomass and bioethanol from both natural and genetically modified algae strains. The algae biomass is to be used as a replacement for soybean meal in feed for livestock and fish.
Under the €8 million agreement, SAT will design an algae farm and provide its algae cultivation technology to JB, oversee the farm’s installation, and ensure the farm’s initial productivity.
Separately, SAT has also entered into a joint venture (JV) with Grupo JB to market the Company’s algae production technology in Brazil. The JV, “ALGAS DO BRASIL,” will make use of JB’s extensive commercial contact network to enhance SAT’s marketing efforts. ALGAS DO BRASIL will be 63% owned by SAT and 37% owned by JB.
“We are truly proud to have Grupo JB as not only the first commercial customer for our micro-algae production technology, but also as a strategic marketing partner,” said Dr. Joachim Grill, CEO of SEE ALGAE Technology. “We believe that this marks a significant step forward in the evolution of our Company and validates both our exclusive technology and the commercial viability of algae, especially for use in feed and biofuels. With Grupo JB as our strategic partner in Brazil, we expect to take a leadership position in this exciting technology.”