Viral Genetics sets up subsidiary to market algae biofuel technology
(ADPnews) - Dec 10, 2010 - US development-stage pharmaceutical firm Viral Genetics Inc (PINK:VRAL) said earlier this week that it established a majority-owned unit, VG Energy Inc, to sell the company's biofuel technology that can boost the yield of oil production from algae by up to 300%.
The technology, developed with financing from the Texas Emerging Technology Fund, involves the manipulation of plant cells to store oil and release the reserves instead of burning the fat for fuel when glucose levels are low. The algae technology does not need any food resources such as arable land and water for the production of green fuel.
"The VG Energy brand makes the organisation more approachable to all players, big and small, and we are excited to enter into the testing, partnering and negotiating stage this early in the company's development," said John Sheehan, biofuel expert and advisor to Viral Genetics.