Algae.Tec looking to sell $200 million in bonds in Europe
In Australia, Algae.Tec is planning to offer USD$200 million in bonds in Europe to expand in the Americas. The Sydney Morning Herald reports that Chairman Roger Stroud stated that the monies will be used to establish a 90% stake in new facilities in both Brazil and Texas, using algae to produce biofuels. According to Stroud, Algae.Tec hopes to start construction in the next 12 months, and that the first facility will take two years to complete.
Category: Ventures
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