Aurora Algae began operations in Karratha mid last year and now has its sights on raising $100 million after hitting the $22 million mark a few months ago.

The $22 million has left the company fully funded until its next expansion phase of harvesting algae-based biomass for products in the nutraceutical, pharmaceutical, aquaculture and renewable energy markets.

The company is looking to raise $100 million from existing and new private investors by mid-year, and is aligning at an IPO later in the year.

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World Health Energy Holdings, Inc. , a public holding company developing joint venture partnerships for algae production for biodiesel and commercial fish food, announced today the signing of Letter of Intent with Prime Inc., an India Industrial and transport Company, to develop a biodiesel production facility ramping up to 250 acres with a budget of up to 100 million dollars.

The proposed sites for development are in Tamil Nadu and Karnataka, India and will utilize an Algae Enhancement Technology, known as the GB3000 system, used for growing algae for the production of Fish Feed, Proteins and Bio-fuel in the Territory of India. Prime Inc. India’s current clients include: Exon, Shell, General Electric (GE) and Siemens.

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Agency officials said the so-called Aquaculture Technology Transfer Initiative will support projects that show promise for creating jobs while maintaining environmental protections.

It’s a tricky balance for NOAA, which didn’t announce any money for the project and faces opposition from some environmental groups that oppose aquaculture as a source of ocean pollution.

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Astec Aquaculture Business & Science Centre is a purpose-built resource that has been created to support the growth of the aquaculture sector.  It opened its doors to businesses and researchers recently, showcasing the extensive facilities and support services that it offers.

Due to its strategic location on the Northumberland coastline at Lyne Sands, Astec is uniquely placed to pump a constant supply of near tropical temperature, flow-through seawater to its state-of-the-art aqua laboratories, which are fitted out with specialist equipment to support a broad range of commercial and research activities.

The new Astec Centre is located close by the Dove Marine Laboratory at Newcastle University, considered a key centre for Newcastle University’s School of Marine Science and Technology, which is leading research into areas such as algae biofuels. However, the prospect of state-of-the-art facilities nearby could help experts refine and expand discoveries further.

Dove Marine Laboratory director Professor Grant Burgess said: “We have several early-stage projects which we may be able to commercialise over the next 12 months. These involve growing and harvesting marine microalgae to make useful products such as omega 3 oils. Astec offers the expertise, historical track record and passion of the people involved to ensure this project is a success.”

The focus at the centre is on application of marine science to building businesses and creating jobs. This complements and builds on current marine biotechnology programmes at the Dove and will considerably strengthen the region in this growth area.

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A2 Omega-3™ is a family of Omega-3 oils aimed at the nutraceutical and pharmaceutical markets with the goal of providing a natural, sustainable and cost-effective alternative to fish oil and fermented products. The first offering in this family, A2 EPA Pure™ will make the benefits of EPA available to a broader market since it is derived from an allergen-free, vegetarian source.

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Zohar is chair of UMBC’s new Department of Marine Biotechnology. At the Columbus Center, he and his colleagues develop new techniques and technologies to protect the world’s oceans and seas and preserve the life inside them.

Zohar and his colleagues think they have an answer: a sustainable aquaculture system that they have developed in the Columbus Center’s basement. It uses a system of filters and pumps to clean and recirculate artificial seawater, providing ideal conditions for marine fish to grow and breed in safety. The fish can’t escape, and the design eliminates the risk of transmitting diseases or polluting coastal waters. Even the fish wastes are put to productive use: they are converted to methane, which can be used to help power the whole aquaculture system.

The aquaculture system developed by Zohar and the marine biotechnology team has already been licensed to a private company for commercial production.

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“We are very encouraged by the results of this extensive study because they point to PetroAlgae protein as a highly desirable replacement for fishmeal at a time when feed demand is expected to increase dramatically in the face of limited traditional supply,” said Dr. Ronald W. Hardy who conducted the study.

The study also found that PPC would be suitable as a fishmeal replacement for other farmed fish species. According to the study, tilapia is one of the largest-volume farmed fish species, and tilapia production is expected to grow from 2.8 million tons to more than 9 million tons by 2020, requiring 13 million tons of feed (up from 8 million tons in 2010).

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“The memorandum will see both companies collaborating in the research and development of aqua technology, shrimp farming and hatchery,” JEFI said in a statement Tuesday.

The research will be conducted by JEFI’s High Tech Marine Life Sciences Research and Development Centre which is located at the Penang Halal Science Park.

The MoU was signed at the BioMalaysia Conference 2010 here which also saw an MoU between University of Manchester, Lonza AG and Sabah Biodiversity Centre, and a memorandum of agreement (MoA) between Furley Bioextract Sdn Bhd with Koperasi Shamelin Bhd.

The MoU involving the University of Manchester, Lonza AG and Sabah Biodiversity Centre is on a marine bioprospecting project in search of novel fluorescent proteins and enzymes as part of the Lonza Innovation for Future Technology initiatives.

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AEE’s executive director, Miguel Cordero, told a press conference that investment totaling $10 million will be needed to get the plant in operation, adding that the initiative will be a “future solution” for Puerto Rico.

Cordero said the plant will be built in a roughly 8-million-square-meter (86-million-square-foot) area in Dorado and Toa Baja, towns on the island’s north coast.

He added that plans are to produce close to 6 million liters (1.6 million gallons) of vegetable oil during the first year of operation, while the dry bodies of the micro-algae will be used as animal feed as part of a project to farm organic tilapia and shrimp.

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The announcement officially marks Aurora Algae’s transition from pilot technology development into full-scale commercialization of the Company’s proprietary algae products, including high concentration eicosapentaenoic acid (EPA Omega-3 fatty acids), high-density proteins, fish meal and renewable fuels.

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