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. Algae.Tec Ltd. earlier post ) signed a binding Memorandum of Understanding (MOU) for a 50/50 equity joint venture (JV) in China with Shandong Kerui Group Holding Ltd.