PERTH, Australia, March 21, 2013 /PRNewswire/ -- Algae.Tec (ASX:
AEB, OTCQX: ALGXY), ranked by Lux Research as the leading algae
biofuels business for 2013, today advised that a Memorandum of
Understanding (MOU) has been formed between Algae.Tec and
WorleyParsons.
A number of Algae.Tec projects, including those in the EU,
USA, Australia and Brazil, are already in the final stages of
technical feasibility studies.
This MOU establishes the framework by which WorleyParsons can
support Algae.Tec in the future development of these projects.
Algae.Tec Executive Chairman Roger
Stroud said:
"Algae.Tec is extremely pleased to have the support of
WorleyParsons during this global development, construction and
management phase."
"WorleyParsons, a world leader in the delivery of engineering,
procurement, and construction management (EPCM) services, brings an
extensive network and years of experience in supporting project
development and plant operations."
About Algae.Tec www.algae-tec.com
Algae.Tec Ltd, ranked by Lux Research as the leading algae
business in 2013, is an Australian advanced renewable oil from
algae company.
Algae.Tec has developed a high-yield enclosed algae growth and
harvesting system, the McConchie-Stroud System. The Company was
founded in 2007 and has offices in Atlanta, Georgia and Perth, Western
Australia.
The Algae.Tec bioreactor, an enclosed modular engineered
technology, is designed to grow algae on an industrial scale, and
produce biofuels that replace predominantly imported fossil
fuels.
The technology has demonstrated exceptional performance in
productivity, product yield, carbon dioxide sequestration, and
production unit footprint requirements versus agricultural crops
and other competitive algae processes in the industry.
Algae.Tec offers a profitable solution for carbon emitting
companies and industries seeking carbon dioxide reduction
technologies. The algae growth system is an alternative to Carbon
Capture.
The Algae.Tec solution is less than one tenth the land footprint
of pond growth options, while its enclosed module 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.
SOURCE Algae.Tec