WHE Announces LOI to Develop $100 Million Algae Farm in India

December 23, 2011
AlgaeIndustryMagazine.com

orld Health Energy Holdings, Inc., a public holding company developing joint venture partnerships for algae production for biodiesel and commercial fish food, announced today the signing of a Letter of Intent with Prime Inc., an India-based industrial and transport company, to develop a biodiesel production facility ramping up to 250 acres with a budget of up to 100 million dollars.

The proposed sites for development are in Tamil Nadu and Karnataka, India, and will utilize an algae enhancement technology, known as the GB3000 system, used for growing algae for the production of fish feed, proteins and bio-fuel in the Territory of India. Prime Inc. India’s current clients include: Exxon, Shell, General Electric (GE) and Siemens.

World Health Energy Holdings, Inc. recently acquired GNE-India, an algae technology company with the distribution and licensing rights to the GNE GB 3000 system, to grow algae quickly and efficiently for the production of biodiesel and commercial fish food protein. GNE-India owns and retains the territorial rights for distribution and sales of the proprietary technology to both India and Sri Lanka.

Liran Kosman, CFO of World Health Energy, said: “We anticipate scaling up operations and completing a number of significant algae projects in 2012.”

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