Lootah Biofuels to jointly collaborate with AlgaOil and plan to extract biofuel from algae
- United Arab Emirates: Sunday, October 14 - 2012 at 16:28
- PRESS RELEASE
Both Lootah Biofuels and AlgaOil Ltd. announced the entry into a new project in which the two companies will merge their expertise together to develop new high oil content raw material for Biofuels such as Algae Oil.
Mr. Klaus Dieter, CEO, AlgaOil Ltd said "We are pleased to collaborate with a well-established partner like Lootah Biofuels to provide the future high value algae oil. Keeping in mind the extensive need for alternative fuels, we are confident that working together will bring optimal solutions to the most challenging opportunities for sustainability."
Lootah Biofuels aims to introduce and innovate sustainable solutions for the long-term energy requirements. By rapidly growing production capacity, strengthening distribution channels, and redefining biodiesel quality, the company continues to expand the reach of biofuels that are economic and environment friendly. AlgaOil Ltd. is focused on the production of algae by carrying out field trails for the gaining of algae biomass and algae oil. AlgaOil will utilize its high end research on the cultivation of microalgae and set up open ponds for bigger scale algae production. The two companies will combine their expertise for the research and development of microalgae, converting it into new high oil content raw material for bio fuels.
Lootah Biofuels will also provide this project with all the necessary local help to fast track completion of the project. Based on the success of the initial start-up, the algae oil mass production will start in Dubai after 6 to 18 months.
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