Algae.Tec, – ASX AEB – (DMG client) a USA and Australian advanced biodiesel algae company, listed yesterday on the ASX and according to the Australian Financial Reveiw today: “On its debut renewable energy company Algae.Tec rewarded investors with a 20% gain up 4c to 24c.”
SMH said: “A COMPANY that uses algae to produce biofuels and store carbon dioxide will make its debut on the stock exchange today after raising $5.1 million from investors.
Algae.Tec, an Australian-US collaboration, has signed a memorandum of understanding with the ethanol producer Manildra for a demonstration algae production plant at Manildra’s starch and ethanol facility at Nowra on the NSW south coast.
Leighton Contractors has a non-binding commitment to build and operate the Nowra plant, which Algae.Tec hopes will begin commercial production of algae biofuels by early next year. “
See more media coverage from the listing. See ASX Announcement here.
Algae.Tec is a DMG client:
“DMG has been working with our company, AlgaeTec for some time.
Being a small company with an emerging clean energy technology, we were conscious of the need
to be carefully presented in the media. Susan Fitzpatrick-Napier and her team have been
amazing. Their acumen, and their ability to grasp concepts, often very sophisticated, quickly and in
such a comprehensive manner is nothing short of inspirational. We have developed a close tie
with the DMG people and look forward to working with them, as we develop, for very many years.”
Executive Chairman Roger Stroud