Green Star Products, Inc. and Biotech Research, Inc. (BTR) will build a 100-acre commercial algae facility in the Midwest, with field construction to begin in March 2008.
The 100-acre Algae Facility will be constructed adjacent to an existing biodiesel plant and will use the CO2 emitted from the biodiesel plant’s boilers to provide a portion of the needs of the algae facility. The algae oil produced from the facility will be turned into biodiesel through the existing biodiesel plant facilities.
GSPI will construct the algae production facility and operate it for 18-months and will participate in ongoing royalties with BTR from sales of algae oil and high protein meal. BTR is a member of a consortium of companies announced earlier in November by GSPI.
BTR and GSPI plan to build GSPI biodiesel production plants alongside algae production facilities at other locations in the US. BTR has plans to build several 1,000-acre algae facilities, each in conjunction with a GSPI biodiesel processing facility. Negotiations are in progress with funding institutions.
GSPI will perform the engineering, construction and operation of the 1,000-acre facilities and participate in the ongoing revenue stream.
GSPI completed a successful Phase I and II 40,000-liter demonstration algae facility in 2007. (Earlier post.)