News | October 21, 2008

GreenFuel Algae CO2 Recycling Project With Aurantia Enters Second Phase At Spanish Cement Plant

MADRID & CAMBRIDGE, Mass.--(BUSINESS WIRE)--GreenFuel Technologies Corporation, the leading developer of algae farming technologies that recycle greenhouse gas emissions, and Aurantia, SA today announced the second phase of their joint project to develop and scale algae farming technologies in the Iberian Peninsula. Initiated in December 2007 at the Holcim cement plant near Jerez, Spain, the project's goal is to demonstrate that industrial CO2 emissions can be economically recycled to grow algae for use in high-value feeds, foods and fuels.

The Aurantia-GreenFuel project at Holcim consists of a series of development stages that could eventually scale to 100 hectares of algae greenhouses producing 25,000 tons of algae biomass per year. Aurantia anticipates the project will be eligible for subsidies from both regional authorities and the central government which will partially offset its development costs.

"After evaluating the key players in the algae industry, there is no question that GreenFuel is leading the race to grow algae at scale using industrial greenhouse gas emissions," said Rafael Naranjo, CEO and Chairman of the Aurantia Group. "We believe algae hold great promise for Spain as they can be harvested daily, rather than seasonally, use water very efficiently and do not require arable land like other crops."

The project began with a Field Assessment Unit (FAU) from GreenFuel for the construction, delivery, and initial operation, which has successfully grown a variety of naturally occurring algae strains in the Jerez sunshine using Holcim flue gases. The second phase of the project commenced with the successful inoculation and subsequent harvests of a 100m2 prototype vertical thin-film algae-solar bioreactor.

"Algae are a very promising solution to diminishing oil reserves, escalating oil and food prices and climate change caused by greenhouse gas emissions, a fact that is underscored by our growing partnership with Aurantia," said Simon Upfill-Brown, who recently joined GreenFuel as CEO from Haltermann and Dow Chemical. "The project at Holcim with Aurantia is a significant milestone in our strategy to commercialize GreenFuel's algae farming technology. In fact Aurantia has already identified several thousand hectares of land in the Iberian Peninsula suitable for the deployment of GreenFuel's technology."

The next phase of the Aurantia-GreenFuel project at Holcim will be the construction of a 1,000m2 algae greenhouse and harvesting facilities adjacent to the cement plant. In the meantime, GreenFuel and Aurantia will continue to test algae growth rates with the cement plant's flue gasses.

About GreenFuel Technologies Corporation
GreenFuel develops algae farming technologies that economically recycle industrial greenhouse gases to grow algae for use in high-value feeds, foods, and fuels. Through partnerships with power plants and other motivated experts, GreenFuel has completed several pilot installations at host facilities in the US and Europe. The most experienced company in the emerging algae industry, GreenFuel is on track to deliver the first commercial-scale installation of a closed-system algae farm. For more information, please visit and read the FAQ.

About Aurantia Group:
In addition to algae, Aurantia is currently involved in a wide range of other renewable energy projects including solar technology. With thirty years experience managing advanced engineering projects, Aurantia Group specializes in a number of fields including: municipal solid waste treatments; landfill degasification; combined heat and power plants; sea water desalination plants; and the whole cycle of waste water treatments including sewage sludges.

Holcim is one of the world's leading suppliers of cement and aggregates (crushed stone, gravel and sand) as well as further activities such as ready-mix concrete and asphalt including services. The Group holds majority and minority interests in more than 70 countries on all continents.

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