Algae.Tec (Public ASX:AEB) is focused on the development and commercialization of innovative and leading-edge technology for the production of algae through the capture of solar energy and sequestration of carbon dioxide, while targeting the substitution of fossil fuels with sustainable algae biofuels.
Algae.Tec has conducted hundreds of laboratory, bench-scale and pilot tests and product trials to-date; assessed competitive algae technologies; and has applied the development phase results to detailed engineering evaluations of commercial plant operations.
The Company is engaged the commercialisation of the McConchie-Stroud algae production and processing system (McConchie-Stroud System). The McConchie-Stroud System consists of a modular reactor, in which minute plants or microalgae, are grown (through the controlled supply of light, water, carbon dioxide gas (CO2) and nutrients), and related infrastructure used for harvesting and refining into algae products. It has secured the exclusive global licence to commercially exploit the McConchie-Stroud System from Teco.Bio LLC, which holds 90% interest in the Company. In January 2011, the Company acquired 80% of Teco Bio LLC.