BioFuels Journal reports:
Algae.Tec Ltd. announced Jan. 18 it has signed a binding MOU for a 50/50 equity joint venture (JV) in China with Chinese company the Shandong Kerui Group Holding Ltd.
The first project under the JV will be for the construction of a 250-module algae biofuels facility in China to be equally funded by both parties.
Algae.Tec Executive Chairman, Roger Stroud, said the facility will be the first of its size and type in the world, being purely focused on algae for the production of transport fuels.
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