Suriname group signs with Petroalgae for microcrop-based fuel, protein farm

In Suriname, Staatsolie Maatschappij Suriname N.V. and Verenigde Cultuur will be responsible for construction and operation of a commercial-scale, PetroAlgae farm for the production of renewable fuel and protein.

The Florida-based PetroAlgae has finalized a Master Framework and Initial License Agreement with the the Suriname Ministry of Natural Resources, Staatsolie and Verenigde.

Planning and funding for the initial phase is underway utilizing PetroAlgae’s micro-crop system and licensed technology.

PetroAlgae’s micro-crop technology employs indigenous, non-algae, aquatic micro-crops suitable to local climates.  It is designed to produce biomass at commercial scale and to enable its licensees to develop an alternative to fossil fuels, as well as a protein coproduct, while absorbing carbon dioxide from greenhouse gas emissions.