Algae.Tec hails Australian government price on carbon as boost for its clean energy solution

Wednesday, November 09, 2011 by Proactive Investors

The stocks of Algae.Tec should receive a boost as carbon emitters make a beeline for the company's clean energy and carbon capture solutions following yesterday's price on carbon announced by the Australian government. To assist investors with the Algae.Tec technology, Proactive Investors has included a video link at the end of this article.

Renewable oil developer, Algae.Tec (ASX:AEB, FWB: GZA:GR, ALGXY:US) has hailed the approval by the Australian Government of a price on carbon as a significant boost for the company's technology by carbon dioxide emitting industries.

Algae.Tec's enclosed modular algae growth system captures carbon dioxide pollution from power stations and manufacturing facilities.

Roger Stroud, executive chairman of Algae.Tec said the Clean Energy Future package, the carbon price, the $3.2 billion Australian Renewable Energy Agency and the $10 billion Clean Energy Finance Corporation will deliver "unprecedented interest in clean energy and proven carbon capture solutions."

Stroud said, "CEF package will encourage carbon emitting companies and industries to seek out carbon dioxide reduction technologies."

He said this will add significant commercial appeal to the Algae.Tec technology.

Algae.Tec is one of the few advanced biofuels companies in the world that has a closed modular engineered technology designed to grow algae on an industrials scale and produce biofuels that replace predominantly imported fossil fuels for transportation use.

The photo-bio reactors are currently being assembled at the company's USA headquarters, the Algae Development & Manufacturing Centre in Atlanta, Georgia, an 18,200 square foot fabrication facility.

The Algae.Tec enclosed modular technology captures carbon dioxide waste from power stations and manufacturing facilities, which feeds into the algae growth system.

The company's solution uses less than one tenth of the land footprint of pond growth options.

The modular system is designed to deliver the highest yield of algae per hectare. As importantly, it solves the problem of food producing land being turned over for biofuel production.

Recent approval received by Algae.Tec for demonstration facility

In October, Algae.Tec announced that its demonstration facility Shoalhaven One has been granted development approval under the Shoalhaven City Council Environment Planning and Assessment Act.

Shoalhaven One will be sited next to the Manildra Group's industrial facility, south of Sydney in Australia. Manildra Group is the nation's largest ethanol producer.

The Algae.Tec algae photo-reactors will take a carbon dioxide feed from the ethanol fermenters into the algae growth system.

Algae.Tec Technology video

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