Australian Algae.Tec to build algae biofuels plant in Sri Lanka

Dec 1, 2011 - Australian biofuels firm Algae.Tec Ltd (ASX:AEB) said today it had agreed with Sri Lankan cement and building materials firm Holcim Lanka Ltd to build an algae biofuels plant in Sri Lanka.

Algae.Tec has developed an enclosed modular technology, which captures carbon dioxide waste from power plants and factories and feeds it into an algae growth system. At the new facility, the company's technology will capture part of Holcim Lanka's carbon dioxide emissions for the production of biofuel.

Initially, the project will include a production unit of five photo-bioreactor modules. The installation will allow Holcim Lanka to assess the benefits of a bigger facility that could further reduce its carbon footprint.

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