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Algae Tec enters stock market

Algae Tec, that uses algae to produce biofuels and store carbon dioxide will make its debut on the stock exchange today after raising $5.1 million from investors.

The company will target the diesel market, the blended petrol and ethanol market and the green market for jet fuel.

"Our studies to date show that we can supply algae at a dollar rate which will allow the conversion to advanced biofuels at a rate competitive to fuels [already] sold," chairman Roger Stroud has said.

For the complete story

http://www.smh.com.au/business/algae-venture-to-make-debut-20110112-19o70.html
Mon January 24 2011 04:20:34 AM by Srividhya algae tec  |  stock exchange 1255 views
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