In Florida, Atlas Capital Holdings Inc. announced that its wholly-owned subsidiary AlgaeTek System’s pilot program to produce algae will include biofuel applications. The Company expects the pilot program to generate over $500,000 in revenue in the first six months of production.
The USDA, Department of Energy and the U.S. Navy announced its commitment to directly invest up to $510 million to retrofit and/or build facilities capable of producing drop-in replacement fuels. Funds from the private sector will be matched, bringing the total potential available capital for the program to more than $1 billion.
More Coverage on this Topic
Category: Producer News
Article source: http://biofuelsdigest.com/bdigest/2011/10/05/algaetek-to-target-fuels-in-algal-pilot/
