Australian-owned Advanced Algal Technologies has signed a major exporting deal for A$100 million to bring algae growing installations to China.
Advanced Algal Technologies (AAT) is an Australian-owned bio-technology company that specialises in algae cultivation and production.
It has signed a joint venture agreement with Chinese company Fuzhou Xiangli Enterprise Management Consulting Co. consisting of a 20 year license agreement to produce 500 patented Algae Farming Conveyor Modular Systems per year.
The A$100 million dollars invested into the Australian Joint Venture company will establish the Chinese manufacturing facilities to produce the modular system which will be specifically placed in areas where carbon dioxide emissions are at their highest levels in China.
“China is reported to be the world’s 4th largest carbon dioxide emitter. Our modular’s will not only produce algae for many health and science benefits, but will benefit the environment,” said Kevin Murphy, CEO of AAT.
Oil and protein
The conveyor system produces high oil content algae for use in bio-diesel production and algae-based high protein products in an insulated modular and temperature-controlled atmosphere for algae cultivation.
The system eliminates any unwanted effects from external sources. The modular is environmentally controlled 24-7, uses a unique PVC fabric on a belt that is designed to maintain moisture and increase surface area for mass algae cultivation and has superseded the more commonly-known open ponds method of growing algae.
The modular system will sequester 7.5 tonnes of carbon dioxide per day during the growth of the algae.
“This new technology has been developed and tested to provide a ‘state of the art’ method of high algal production for conversion into bio-diesel, high protein animal feed stocks, high quality pharmaceuticals and consumption of carbon dioxide from industries and power generation plants in a much more affordable manner,” Murphy said.