Sumukhi blogs Algae.Tec signs Two MOU You are here
Algae.Tec signs Two MOU 12
Link : http://money.ninemsn.com.au/article.aspx?id=7951993&rf=true
Fri August 27 2010 04:53:55 AM by Sumukhi investment | Biofuel | algae | Algae Fuel Companies 2293 views
Shankar wrote:
Fri August 27 2010 05:30:40 AM
The Algae.tec IPO will only provide for the construction of the demonstration plant.
Thereafter, Algae.Tec aims to develop strategic partnerships with power plant equipment providers and operators, manufacturing and construction companies and other users of its end products.
However, the jump from demonstration plant to commercial operation will require a great deal more capital, and thus further capital raising.
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If I remember right, even Petroalgae had a few such MOUs which are non commital.
The other similarity that i notice is that, both have offices in usa and australia.
The difference is Petroalgae is getting listed in usa and Algae.tec in Australia.
Let me get some more info about the issue to comment more on this interesting issue.
Although the size of the issue is small, my worry is they dont have a proven model.
Sun August 29 2010 06:15:06 AM
You can hear Roger Stroud talk to Sky News about Algae Tec here
http://www.algaetec.com.au/index.php?option=com_content&view=category&layout=blog&id=6&Itemid=15
Their website doesnt give enough confidence in me.
My money remains in my pocket.
Tue August 31 2010 01:04:30 AM
The Algae.Tec IPO is not underwritten by any third party.
Lead manager in the issue is Minc Stockbroking [thinkminc.com.au] and stock analysis has been undertaken by research house Wise Owl [wise-owl.com].
Thu September 02 2010 11:16:37 AM
Algae Tec says it is poised to list on the Australian Securities Exchange and has inked two non-binding deals to deploy technology that can be used to generate biofuels from algae here and in China.
The company is currently in the midst of an initial public offer of 37.5 million shares at a price of 20 cents each to raise $7.5 million, which is slated to close on September 17 and is expected to be followed by an ASX listing at the end of this month.
Perth-based Algae Tec holds the exclusive global rights to the McConchie-Stroud algae growth and harvesting system, which produces products such as algal oil and biomass that can be used to generate biofuels.
"The Algae Tec system is designed to deliver the highest yield of algae per hectare and solves the problem of food-producing land being turned over for biofuel production," Algae Tec said in a statement.
Algae Tec said it had signed a memorandum of understanding with Hong Kong-based Pacific Minerals and Australian company RKD International to establish a joint venture to establish commercial production facilities in China.
"We look forward to negotiating definitive binding agreements for this joint venture in the coming months," Algae Tec chairman Roger Stroud said.
Algae Tec has also penned an MoU with Australian ethanol producer Manildra Group with a view to installing several photobioreactors at Manildra's starch and ethanol production facility at Nowra, New South Wales.
Algae Tec said these could be operational in the second quarter of 2011.
source http://www.wabusinessnews.com.au/en-story/1/83234/Biofuels-from-algae-firm-to-list-soon
Both Petroalgae and algae tec issues will do more harm to the algae to oil industry than good, in my opinion.
Thu September 09 2010 11:48:24 PM
http://news.smh.com.au/breaking-news-business/biofuelsfromalgae-firm-to-list-soon-20100901-14mr3.html
MiaFranceska wrote:
Wed September 15 2010 01:08:14 PM
some more news about the IPO
http://www.prnewswire.com/news-releases/algaetec-carbon-capture-algae-growth-technology-targets-australias-cleaner-future-for-power-stations-policy-102922159.html