PetroAlgae signs MOU to launch technology in Chile

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Algal technology developer PetroAlgae Inc. reported the signing of a memorandum of understanding (MOU) with Asesorias e Inversines Quilicura, a major shareholder of Subus Chila S.A., and expects the MOU to enable the development of a micro-crop technology system for the large-scale production of green gasoline, diesel and jet fuel in Chile.

By managing light exposure the technology is able to dramatically increase growth and productivity of indigenous organisms in open-pond bioreactors. The resulting micro-crops absorb approximately twice their weight in CO2 and are harvested every few hours to produce a high-quality protein and carbohydrate-rich biomass, according to PetroAlgae.

Last year, the company was the recipient of the Sustainable Biofuels Technology Award in the technology supplier category at the World Biofuels Markets.