Australian biofuel firm AlgaeTec is ready to commercialize its technology on a large scale with six factories planned over the next three years around the globe. Following a recent agreement to provide German airline Lufthansa with biofuel from algae, AlgaeTec is seeking sites for the production of biodiesel and biofuel. Chairman Roger Stroud estimated the six facilities planned for the US, Australia, Sri Lanka and Brazil will cost US$600 million.
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