Algae Ethanol Producer Aquatic BioEnergy Raises $800,000
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South Dakota-based algae fuel start-up Aquatic BioEnergy, which is using sea weeds for ethanol production, has raised $800,000 in private equity. The company uses sewer water or CO2 stripped from a power stack to feed the algae.
Two years of lab analysis have led to the company’s current pilot facility in Sioux Falls,which employs 45,000 gallons of tank space for commercial-scale testing.
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