Algae in one-tenth of the land surface !!
Algae.Tec was founded in 2008 with offices in Atlanta, Georgia and Perth, Western Australia.
Listed in Australia recently as you all are aware.
Stroud is the CEO.
The McConchie-Stroud System is designed to produce valuable sustainable bio-fuels, including biodiesel and bio-jet fuels, said Stroud. The technology can also capture CO2 emissions from power stations and manufacturing facilities which feed into the algae growth system.
Algae.Tec has two MOUs . One in China and the other in Australia.
Algae.Tec also has an MOU with Leighton Contractors for engineering and project management expertise.
The first demonstration plant is planned for The Manildra Groupís Nowra facility in NSW
The McConchie-Stroud System uses low-maintenance technologies and an efficient solar system to produce algae in one-tenth of the land surface as compared to the current pond method for producing algae, the company says.
Neither Stroud nor the company has elaborated on this. There must be some truth in it as originally many people in oilage club considered Algae.Tec as something that will affect the industry. Now they have raised $ 5.1 m and got listed in the exchange too.
The photo-bioreactors which are at the heart of the McConchie-Stroud algae production technology are designed to generate four revenue streams:
oils which can be refined into biodiesel;
carbohydrates (sugars) that can be used in the production of ethanol;
proteins that can be used as feedstock for farm animals; and
protein and carbohydrate biomass that can be combined to produce jet fuel.