World Health Energy inks LoI to develop USD-100m algae farm in India
Dec 22, 2011 - US biodiesel producer World Health Energy Holdings (PINK:WHEN) said yesterday it had signed a letter of intent (LoI) with Indian Prime Inc to develop an algae production farm worth up to USD 100 million (EUR 76.5m).
The proposed sites for the 250-acre (101 hectares) farm are in the Indian states of Tamil Nadu and Karnataka. World Health will use at the site an algae enhancement technology -- GB 3000 system.
The company said it was to complete several large algae projects next year. It has recently acquired GNE-India, which owns the GB 3000 technology for the quick and efficient growing of algae for biodiesel and commercial fish food protein production.