Algae.Tec, Lufthansa join hands on algae oil-to-jet-fuel project

Dec 23, 2011 - Australian biofuels firm Algae.Tec Ltd (ASX:AEB) Thursday said it had inked a memorandum of understanding with Deutsche Lufthansa AG (ETR:LHA) to evaluate the potential use of algae oil in renewable jet fuels.

Algae.Tec has developed a specific bioreactor -- an enclosed modular technology, which captures carbon dioxide waste from power plants and factories and feeds it into an algae growth system. Together with Lufthansa, the company will assess options to turn its algae oil into sustainable source of jet biofuel, Algae.Tec said.

At the start of December, the Australian company agreed with Sri Lankan cement and building materials firm Holcim Lanka Ltd to build an algae biofuels plant in Sri Lanka.

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