Algae.Tec to form JV in China for algae for renewable transportation fuels and carbon capture facility; raising A$5M
Green Car Congress
JANUARY 18, 2012
The facility will produce approximately 33 million liters of algae-derived transport oil and approximately 33,000 tonnes of biomass per annum at a combined value of more than $40 million, and capture 137,000 tonnes of waste carbon dioxide, according to Algae.Tec Executive Chairman, Roger Stroud. Following completion of the 250-module plant, the JV will seek funding to build new projects exceeding 1,000 modules and to engage with CO 2 emitters in the Greater China region.