Algae.Tec Technology Enters China Market
January 21, 2015http://www.biodieselmagazine.com/articles/274282/algae-tec-positions-to-enter-greater-china-region
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In China, Algae.Tec has made an agreement with China Finance Strategies Investment Holdings Ltd (CFS) to market its technology in the greater China region. Algae.Tec will issue CFS an initial US$ 500,000 convertible bond and an additional US$ 5,000,000 upon achievement of certain milestones.
"This is an exciting development for Algae.Tec following on from the company's program with India's Reliance Industries Ltd., and the recent Chinese commitments with the U.S. to curb greenhouse gas emissions," said Algae.Tec Managing Director Peter Hatfull.
"The Chinese government has stated its intention to assiduously pursue a ‘Blue Sky' Policy, with the intent to utilize all technologies and procedures that will reduce greenhouse emissions throughout China. The recent historic commitment between the presidents of both China and the United States to curb greenhouse gas emissions is further, public enunciation of China's strategic objective," added Hatfull.
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