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Gold Coast Energy Firm Goes Green, to Get Oil from Algae
15 May 07
ICON Energy, the Robina-based oil explorer, has gone green in its latest venture with a plan to snare a stake in a US bio-diesel business.
The company, which for years has been searching for oil in Louisiana as well as the Surat Basin in Australia, has signed a letter of intent with PetroSun Inc of Arizona for a 20 per cent share of a licence to produce bio-diesel from algae.
The plan will see Icon establish a new bio-fuel company in Australia. PetroSun will also take a 55 per cent interest in Icon Energy subsidiary Icon Drilling.
Read the full story from this news report from Gold Coast Bulletin
Oilgae has a focus on biodiesel production from algae while also discussing alternative energy in general.
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