Published today..."East-West algae linkPerth-based listed...

Published today...

"East-West algae link

Perth-based listed advanced biofuel company Algae.Tec last week signed a binding MOU for a 50/50 equity joint venture with China's Shandong Kerui Group Holding Ltd. The JV's first project will be the construction of a 250-module algae biofuels facility in China – a world first of its size and type, according to Algae.Tec's executive chairman Roger Stroud – which will be purely focused on algae for the production of transport fuels. Stroud says the facility, to be built in Dongying, in Shandong Province, will produce around 33 million litres of algae-derived transport oil, and approximately 33,000 tonnes of biomass a year – at a combined value of over $40 million – while also capturing 137,000 tonnes of waste carbon dioxide. "And this should be the first of many,” he said.

The JV is also expected to accelerate Algae.Tec's expansion in China, targeting corporations and environmental administration authorities.“China is a country truly focused on a 'blue skies' policy," said Stroud. "This JV has been formed to help China move towards this important goal. The Algae.Tec technology [the McConchie-Stroud biofuels production system] will reduce unwanted emissions and will convert them into locally produced transport fuels which will add to fuel independence." For its part, the Kerui Group will provide local business knowledge and expertise, which will should prove particularly useful when it comes to the JV's plans to secure government funding to build new projects exceeding 1,000 modules, and to engage with CO2 emitters in the Greater China region.

In the week before this news, Algae.Tec announced that the company was embarking on a four-fold expansion of its Atlanta, Georgia-based Algae Development & Manufacturing Centre to 70,000 sq ft to scale-up production line capability for existing and upcoming commercial projects. Last month, Algae.Tec signed a biofuels MOU with EU airline Lufthansa, and announced a biofuels production and carbon capture deal with the Sri Lanka subsidiary of industrial giant Holcim, the world’s largest cement and building materials company."

http://www.climatespectator.com.au/commentary/green-deals-wind-win-victoria