A Florida-based biodiesel firm is investing in a Puerto Rico company’s algae biofuels research.
Alternative Fuels Americas (AFA) announced today that it is acquiring Sustainable Agro Biotech of Puerto Rico, which has been developing proprietary technologies “to recycle carbon dioxide emission into microalgae varieties with robust growth and oil production capabilities and to achieve commercially feasible harvesting of microalgal products.” AFA will work with the Sustainable Agro Biotech team to further its research and develop a viable algae-to-biofuels capacity.
AFA CEO Craig Frank says they are very excited about the acquisition. “We have had an interest in algae for quite some time and have been looking for a company that fit well with our comprehensive approach to biofuel. This acquisition opens up new opportunities for AFA, and broadens our operational possibilities, both in terms of geography and the types of feedstock we have at our disposal.”
AFA has facilities in Gainesville, Florida and a 10 acre facility in Puerto Rico in partnership with University of Puerto Rico, Mayaguez.