Indian companies to build biodiesel plant
World Health Energy Holdings has signed a letter of intent with Prime, an Indian industrial and transport company, to build a biodiesel production facility on a budget of $100 million (€75 million).
The development will be built on 250 acres and Prime has tested batch samples of spirulina algae which it plans to cultivate under the project, for biodiesel production.
The proposed areas for the development are in Tamil Nadu and Karnataka, India and once built the facility will use ‘algae enhancement technology’, also known as the GB3000system, to grow algae for the production of biofuel. The algae will also be used for fish feed and proteins.
Liran Kosman, CFO of World Health Energy, says: ‘We anticipate scaling up operations and completing a number of significant algae projects in 2012. It is exciting to see that our customers are not only impressed with the competitive cost of our systems, but are also surprised by the high quality of the algae we grow for high yield biofuel production.’
The cultivation system has already been used to grow a combination of local algae species, such as chlorella, which can be used to produce biodiesel.
GNE-India owns and retains the territorial rights for distribution and sales of the proprietary technology to both India and Sri Lanka. The company has exclusive distribution and licensing rights to the GNE GB 3000 system in India and Croatia.