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Algae International Group signs contract with Gulf Hydrocarbon for algae oils
19 August 2013
Algae International Group Inc. (AIG) and Gulf Hydrocarbon, Inc. signed an agreement for Gulf exclusively to represent AIG in sales and distribution of its proprietary and non-proprietary algal oils and products created with the algal oils. The exclusive representation agreement takes effect immediately and is a precursor to ALGA’s commercial production of algal oils from its pilot facility located in Tulare, California.
Gulf will distribute and sell AIG’s algal oils for further processing into fuels and all products made with the algal oils as well as ancillary products of gaseous fuels and electric power.
AIG will begin by shipping to Gulf samples of algal oils for testing as feedstocks for biodiesel. As a part of the agreement, Gulf will offer standard biodiesel reference fuels made using AIG’s output from its pilot facility.
In addition to the representation of oil and related products, Gulf will also represent AIG for the sale and distribution of excess biogas and the other products created with the excess biogas. These products will meet the latest proposed pathways for landfill and biogas for the Renewable Fuel Standard. Gulf will also market any renewable information numbers (RINs) generated by AIG. The RINs have a current value of $9.00/Mmbtu.
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