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Algae Tech to get listed today Posted by Shankar on Thu January 13 2011 06:54:31 AM 33

I must eat my words.Algae Tec has raised $ 5.1 m and is getting listed today.

Algae Tec, a company  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.
Algae.Tec, an Australian-US collaboration, has signed a memorandum of understanding with the ethanol producer Manildra for a demonstration algae production plant at Manildra's starch and ethanol facility at Nowra on the NSW south coast
Algae.Tec also has signed a memorandum of understanding with the Hong Kong company Pacific Minerals and the Australian company RKD International for the establishment of a Chinese joint venture. It is aimed at introducing Algae.Tec's technology to China.
more http://www.smh.com.au/business/algae-venture-to-make-debut-20110112-19o70.html