March 19, 2011

ALGAE.TEC OPENS ALTANTA ALGAE DEVELOPMENT & MANUFACTURING CENTRE

Algae.Tec Limited, an advanced biofuels company with a high-yield enclosed algae growth and harvesting system, the McConchie-Stroud System, announced today the opening of the Algae Development & Manufacturing Centre in Atlanta, Georgia where the photo-bioreactors will be assembled for shipping around the world.

The company also announced it had appointed the Bank of New York Mellon to commence the establishment of a Level 1 American Depositary Receipt (ADR) Program.

Algae.Tec Executive Chairman Roger Stroud said the ADR Program would give USA energy and cleantech investors access to shares in the company, which is in a high growth phase establishing facilities in Australia and Asia.

US-based Algae.Tec COO Earl McConchie was in Australia in February to select the site for the demonstration plant at The Manildra Group’s ethanol facility at Nowra south of Sydney, the largest ethanol producer in Australia.

The Algae.Tec solution is less than one tenth the land footprint as pond growth options, while its enclosed module system is designed to produce algae biomass in virtually any environment on the planet.

The Algae Development & Manufacturing Centre in Atlanta is an 18,200 square foot fabrication facility.

“The Centre is currently being modified to enable the retrofitting process of the 40-foot steel shipping container algae growth modules, ready for the first module delivery to the Centre in April,” said Stroud.

“The photo-bioreactors which are at the heart of the McConchie-Stroud algae production technology are designed to produce valuable sustainable biofuels including biodiesel and green jet biofuels.”

“The technology also captures carbon pollution from power stations and manufacturing facilities which feed into the algae growth system.”

“It is very positive for the economy, the environment, and the sustainable fuel industry.”

The enclosed modular system is designed to deliver the highest yield of algae per hectare, and solves the problem of food-producing land being turned over for biofuel production.

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