Algae.Tec Receives Purchase Order
Australian algae fuel developer Algae.Tec has received a $2.4 million purchase order from an affiliate of Reliance Industrial Investments and Holdings Limited (RIIHL) in connection with an investment announced in January.
This purchase order is for supply of Algae.Tec algae production technology and technical expertise.
Algae.Tec is to build a pilot biofuels plant with RIIHL using its algae fuel technology as part of an agreement with a subsidiary of India’s largest privately owned company. The technology will capture CO2 emissions and turn this into algae for use asbiofuels.
The pilot plant is designed to calibrate the technology for local settings and is considered a forerunner of a larger demonstration plant, and possibly commercial plants elsewhere in India. Reliance has exclusivity over the technology in the India market.
Source: http://www.environmentalleader.com/2014/02/25/algae-tec-receives-purchase-order/
