Australia-based Algae.Tec will bring its algae-biodiesel technology into China. This story from Proactive Investors says Algae.Tec will issue a $500,000 convertible bond to China Finance Strategies Investment Holdings (CFS), with another $5 million in conditional options to come.
CFS has extensive relationships in China with its key executives having completed over 250 fundraising and advisory transactions in Greater China Region and invested in over 20 projects involving around US$1.5 billion.
Both companies will jointly explore commercial scale opportunities for Algae.Tec’s technology across Greater China incorporating the People’s Republic of China, Taiwan, Hong Kong and Macau.
Algae.Tec expects its algae based renewable fuel and carbon capture technology to play a meaningful role in contributing to the Strategic Targets China has set for itself.
The potential for biodiesel projects could be helped by a recent U.S.-China agreement on greenhouse gas emission targets.