PetroSun, Shanghai Jun Ya Yan Technology Development, to construct the first commercial scale, fuel focused, algae biomass company in China

In Arizona, PetroSun announced an agreement with Shanghai Jun Ya Yan Technology Development to construct the first commercial scale, fuel focused, algae biomass company in China. Under the agreement, Shanghai Jun Ya Yan will provide $40 million for construction of the facility and take a 50 percent stake in the project, and PetroSun will contribute its closed photo bioreactor technology in return for the other 50 percent.

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