Perth, Western Australia/Atlanta, Georgia - 13th December 2011 - Algae.Tec Limited (ASX: AEB) an advanced biofuels company said the Government had recognised the potential of carbon capture as part of Australia's energy future in the draft Energy White Paper released today.
Algae.Tec's Executive Chairman Roger Stroud said the draft Energy White Paper released by the Resources Minister, highlights carbon capture as a key part of the new energy solution for Australia.
Algae.Tec's advanced algae to biofuels technology delivers carbon capture as part of its algae growth system.
"The Algae.Tec technology is designed to be built along-side power stations and manufacturing facilities and captures carbon pollution which feeds into the algae growth system," said Stroud.
The recent deal signed between Algae.Tec and Holcim Lanka, a cement and building materials company, is evidence of how the Algae.Tec solution can reduce the carbon footprint of big industry by channeling waste carbon dioxide into the algae growth system and generating valuable biofuel at below market cost.
Carbon-capture, used in advanced technology such as this, produces some of the most economically viable biofuels available.
(ASX: AEB, FWB: GZA:GR, ALGXY:US)
Algae.Tec is an advanced renewable oil company that has developed a high-yield enclosed algae growth and harvesting system, the McConchie-Stroud System.
The company has offices in Atlanta, Georgia and Perth, Western Australia. The company has a highly experienced global team with over 200 years of technical, professional and business expertise in key energy and environmental industries and core competencies in biofuel technologies and energy markets.
The McConchie-Stroud System is a high efficiency microalgae production technology via a modular photo-bioreactor system, which features improved algae harvesting and product refinement technologies. Its algae technology has demonstrated exceptional performance in productivity, product yield, carbon dioxide sequestration, and production unit footprint requirements versus agricultural crops and other competitive algae processes in the industry.