Sustainable Agro Biotech, LLC has been developing proprietary technologies to recycle carbon dioxide emission into microalgae varieties with robust growth and oil production capabilities and to achieve commercially feasible harvesting of microalgal products. The Company operates facilities in Gainesville, Florida and a 10 acre facility in Puerto Rico in partnership with University of Puerto Rico, Mayaguez. AFA will work with the Sustainable Agro Biotech team to further its research and develop a viable algae-to-biofuels capacity.
"This announcement, following last week's news that we have concluded agreements providing AFA with large tracts of land, demonstrates our commitment to the fulfillment of our business plan. We are extremely excited by this acquisition," commented AFA CEO Craig Frank. "We have had an interest in algae for quite some time and have been looking for a company that fit well with our comprehensive approach to biofuel. This acquisition opens up new opportunities for AFA, and broadens our operational possibilities, both in terms of geography and the types of feedstock we have at our disposal."
"The opportunity this agreement provides to Sustainable Agro Biotech is meaningful in a number of ways," remarked Arup Sen, President of Sustainable Agro Biotech, LLC. "AFA will lend us support, encouragement, vision, and the larger infrastructure under which we can explore various methods of growing algae and extracting oil from algae. We are excited by the possibilities the combination of our talents and resources will allow."
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