Algae.Tec Limited, an advanced biofuels company with a high-yield enclosed algae growth and harvesting system (the McConchie-Stroud System) has been accepted to list on the Frankfurt Stock Exchange (FWB), now the largest investor base in the world following a merger announcement with the New York Stock Exchange (NYSE). The company last month listed on the Australian Stock Exchange (ASX). (Earlier post.)
Algae.Tec has a globally focused growth path so it is important to be part of the world’s biggest investment facility covering the EU and USA. The photo-bioreactors which are at the heart of the McConchie-Stroud algae production technology are designed to produce valuable sustainable biofuels including biodiesel and green jet biofuels. The technology also captures carbon pollution from power stations and manufacturing facilities which feed into the algae growth system.—Algae.Tec Executive Chairman Roger Stroud
Algae.Tec has two MOUs (memoranda of understanding) to deploy the technology in China and Australia; the target size is a minimum of 250 modules in each location. Additionally, the company has an MOU with Leighton Contractors for engineering and project management expertise. The first demonstration plant is planned for The Manildra Group’s Nowra facility in NSW (New South Wales, Australia).
Work is starting this month on the demonstration plant at Nowra; the algae photo-bioreactor modules are being assembled in the USA and delivered to the Australia site.
Algae.Tec has chosen six algae species have been chosen out of sixty studied. The preferred species are composed of approximately, 50% algal (vegetable) oil, and the biomass comprises 30% simple sugars and 20% edible protein. Consistent pilot plant production data details that one module can produce 250 tonnes of dry algal matter per annum. Currently market prices for crude vegetable oil exceed $US1,000 per tonne, and for biomass of similar chemistry exceed $US400 per tonne, which would result in an estimated $US700 revenue per tonne, $US175,000 revenue per year per module.
Operating costs are estimated to be $US185 per tonne of production or $US46,250 per annum, per module. Based on a minimum of 200 modules, capital costs, including all ancillary, harvesting and separation equipment, are estimated to be $US125,000 per module, or $50 per tonne based on a 10-year module life.