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Additional Information
Market: ASX
Sector: Renewable Energy
EPIC: AEB
Latest Price: 0.39  (5.41% Ascending)
52-week High: 0.63
52-week Low: 0.30
Market Cap: 19.47M
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Algae.Tec
algaetec.com.au

Algae.Tec (ASX: AEB) is an advanced biofuels company focused on commercializing technology that produces algae to manufacture sustainable fuels such as bio diesel and green jet fuel.

Full Algae.Tec profile here
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Algae.Tec expanding to meet commercial biofuel demands

10th Jan 2012, 11:40 pm

Algae.Tec (ASX: AEB) has expanded its Algae Development & Manufacturing Centre in the United States to accommodate commercial production programs.

The facility, in Atlanta, Georgia, has increased almost fourfold to 6,503.2 square metres, from 1,672.2 square metres. This will ensure capacity for Algae.Tec’s existing and upcoming commercial projects.

The Algae Development & Manufacturing Centre is Algae.Tec’s alga-to-transport fuel development and manufacturing hub for the U.S., Asia and Europe.

Algae.Tec’s enclosed module system has less than one tenth the land footprint of pond growth options, and is designed to deliver the highest yield of algae per hectare.

This solves the issue of food-producing land being turned over to the production of biofuels.

“Algae.Tec is the only advanced biofuels company specifically focussed on the global transport fuel industry, using an industrial-scale enclosed, modular and engineered algae growth technology to produce biofuels that replace predominantly imported fossil fuels,” executive chairman Roger Stroud said.

“Algae.Tec also offers a profitable solution for carbon emitting companies and industries seeking carbon dioxide reduction technologies.”

Commercial opportunities

Last month, Algae.Tec signed a memorandum of understanding with German airline carrier Lufthansa (LHAH: DE) to evaluate algae oil produced from Algae.Tec’s bioreactors as a sustainable source of aviation fuel.

In addition to greater sustainability, Algae.Tec’s biofuel would be likely to cost just a fraction of the price of jet fuel.

Also in December 2011, Algae.Tec signed a collaboration agreement with Holcim Lanka to build its first algae biofuels production facility in Asia.

The facility, to be located in Sri Lanka, will reduce the carbon dioxide emissions associated with cement manufacturing.

Holcim Lanka is part of Holcim Group (VTX: HOLN), which is a global company with market presence in over 70 countries on all continents. The Group employs some 90,000 people and is currently the second largest cement manufacturer in the world.

Shoalhaven showcase

Meanwhile, in November 2011, Algae.Tec shipped the first of five photo-bioreactor modules from the centre to Nowra, south of Sydney, where the company is setting up a Shoalhaven One Australian showcase facility.

The facility will be located next to the country’s largest ethanol producer Manildra Group’s industrial facility.

Star IPO Performer

Algae.Tec was among the top 10 performing IPO's on the ASX, its shares up 160% at one stage.

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