Algae.Tec Ltd., an Australian producer of algal oils used in cleaner fuels, is teaming up with a unit of Reliance Industries Ltd. to build a pilot production facility in India.
Reliance Industrial Investments and Holdings Ltd. will invest A$1.5 million ($1.3 million) in Algae.Tec and A$1.2 million more over the next two years, Perth-based Algae.Tec said in a statement.
The companies will develop a pilot project in India that will produce two barrels of biofuel a day and be funded by Reliance affiliates, Algae.Tec said. Reliance plans to work with its new partner to help bring the technology to market.
via Algae.Tec Teams With Reliance to Build Clean-Fuel Plant in India – Businessweek.
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