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The Australian Financial Review: New Algae.Tec deals

The Financial Review reports that Algae.Tec stock has experienced a 31% increase this month and is now trading at its highest level since January. This is due to the draft Energy White Paper signaling carbon-capture as a solution for the future (Algae.Tec is a carbon-capture solution) as well as two new deals for the company. The new agreement with global cement and building materials leader, Holcim will see Algae.Tec build its first algae biofuels production facility in Asia. In addition, the company recently received a $6 million funding injection from La Jolla Cove Investments which will fast-track projects and expand the technical engineering team.