Algae.Tec Ltd has announced that the AUD$5,000,000 (USD$5,354,086.97) Placement through Patersons Securities Limited has been successfully completed.
As previously stated, this capital raising will be utilised to fund the fast-tracking of commercial projects recently announced.
Algae.Tec Executive Chairman, Roger Stroud, said the Company was extremely pleased with the capital raising.
“This again demonstrates that sophisticated investors are aligned with the need for alternative transport fuel technologies such as the Algae.Tec enclosed algae to biofuels solution,” said Stroud.
“The market is also responding to the recent milestones and commercial deal announcements the Company has signed with major companies in China, Sri Lanka and Europe.”
The company’s Western Australia operation in Karratha is planned to be increased from the initial 100 hectares of commercial operation to 400 hectares in the next stage, and then 1000 hectares.
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.
Heliae, an Arizona-based algae technology company, announced today three significant additions to its expanding portfolio of intellectual property.
The United States Patent and Trademark Office issued patent number 8,084,038 to Heliae entitled “Methods of and Systems for Isolating Nutraceutical Products from Algae” on December 27, 2011. Heliae has received a Notice of Allowance from the USPTO for two additional patent applications focused on Heliae’s breakthrough extraction technology. These patents are expected to issue in the first half of February.
$100 Million Project Envisioned for Production of Biodiesel and Commercial Fish Food
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.
The board directors of Health Enhancement Products, Inc. (OTCBB: HEPI), a Scottsdale, AZ-based food ingredients and nutraceutical enterprise, has authorized an expanded study of its algae extracts. Since May of 2011, the Company has been working with Battelle, the world’s largest independent research and development organization, to isolate the active molecules in its proprietary algae extract, specifically those natural compounds responsible for supporting a healthy cholesterol balance. Over the intervening months, Battelle research scientists have conducted a series of experiments to separate bioactive fractions of the algae extract in order to isolate and further characterize the bioactive components.
That program has resulted in a number of isolates that can now be tested in vivo. The in vivo portion of this expanded research project will be carried out in several steps. The in vivo study is expected to commence in several days. The isolated samples will be administered to test subjects over the course of 30 days, after which an evaluation process would identify those samples with bioactivity. Battelle scientists would subject those samples to further refinement and validation, or proceed directly to a final analysis.
Champions of Juneau Economic Development Council’s 10 action initiatives for its ocean products working group reported progress and opportunities at a recent teleconference.
The Development Council was contracted by the U.S. Department of Agriculture Forest Service to complete an economic development asset map and a strategic plan for southeast Alaska. “The map and plan would focus on actions to strengthen select industry sectors in the region, such as fishing, tourism and timber,” according to JEDC.
Previously, the Southeast Alaska Ocean Products Working Group identified their 10 action initiatives between Jan. and May of this year.
The group discusses ways to develop region-wide mariculture zoning, increase wild salmon production through habitat restoration, develop a sea otter management program in southeast Alaska, establish a marine industry technology and workforce improvement consortium, include the seafood industry in USDA programs, enhance salmon production, study the conversion of southeast Alaska fish byproduct to biogas and fertilizer through anaerobic digestion, further develop renewable energy, protect long term access to fishery resources and ensure southeast’s fishing future through targeted education and training in the acquisition and financing of fishing permits, quota and fishery businesses.
PetroAlgae Inc. (otcpk:PALG), a global provider of licensed technology that produces micro-crops for renewable protein, feed, and fuel products announced today the completion of the first phases of two studies showing that PetroAlgae micro-crop protein could qualify as the first major new plant protein source for humans since soy protein entered the human diet in the 1950s.
PetroAlgae’s patent pending technology employs a hydroponic system using indigenous aquatic plants and is designed to enable its licensees to produce high-value protein, animal feed and a cost-effective alternative to fossil fuels, while absorbing carbon dioxide. Unlike most soy products, PetroAlgae protein is not produced from genetically modified (GMO) species; it is derived from renewable aquatic crops using no pesticides or heavy metals that would otherwise contaminate the products with residues. Moreover, by using a local, non-GMO species, the PetroAlgae licensed technology preserves the ecological integrity of the areas that are farmed, and it does not pollute soil or water.
The studies were performed at the College of Agriculture at Purdue University, under the direction of Dr. Mario Ferruzzi; by Dr. Fadi Aramouni of the College of Animal Sciences and Industry at Kansas State University; and by independent laboratories such as Craft Technologies, Inc.
oca Raton, FL-based Atlas Capital Holdings Inc. has announced that its wholly owned subsidiary, AlgaeTek Systems, Inc, has commenced development of its new high grade algae production facility located in Woodlands, TX.
“The facility is on track to be in production in the next six weeks,” said Christopher Davies, CEO of Atlas Capital Holdings. “We believe we will be able to harvest high-grade algae that will sell for an estimated $2,000 to $7,000 per pound. After its first year of generating revenue we will utilize our experience and expertise to develop another facility on a much larger scale.”
Bard Holding Inc., a U.S. based algae production company, has announced the opening of its Calhoun, Georgia facility, the first of multiple manufacturing sites the company plans to operate in Georgia.
According to Dr. Rajesh Patel, a successful practicing physician in the Atlanta metro region who partnered with BARD Holding on the expansion of algae production facilities throughout the state of Georgia, “We are proud to contribute to the region by helping revitalize the community’s industrial space and enhance Georgia’s economic productivity.”
Hawaii-based Cyanotech has posted a dramatic rise in sales in the first quarter of 2012 driven by growing demand for natural astaxanthin: a potent red antioxidant that hit the headlines earlier this year following favorable coverage on Dr Oz and Oprah. Cyanotech is based in Kona, Hawaii.
The microalgae specialist, which also makes spirulina – a blue/green nutrient packed with protein, carotenoids, B-Vitamins, GLA and essential amino acids – posted a 21.8 percent rise in net income to $486,000 on revenues up 54.3 percent to $5.95m in the three months to June 30.
The sharp rise was primarily due to a surge in sales of astaxanthin (accounting for 63 percent of sales) which were up 97 percent in the quarter.
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