THE TECHNOLOGY

Photosynthesis is a biochemical process, during which algae absorbs light energy from sunlight and carbon dioxide from the atmosphere or a industrial (eg stackgas) source; utilizes water and critical nutrients (nitrogen, phosphorous and other key nutrients); and undergoes multiple step light and dark phase reactions to biologically produce primarily lipids (fats and oils), carbohydrates (sugars) and proteins  subsequently generating oxygen off-gas. The fundamentals of algae production and the downstream conversion to renewable fuels are relatively “old” chemistries, but the optimal path to feasible commercialization does require step-changes in system design and process innovation for economic viability.

The Algae.Tec system combines closed control of algae production within an engineered modular environment and efficient downstream biofuel processing.

ABOUT ALGAE

The term “algae” is used to refer to a diverse group of aquatic, estuarine and marine plant organisms, which range in size from microscopic (microalgae) to many meters in length. There are more than 30,000 fresh water and salt water species of algae. Approximately 1,000 algae species studied show as potential for biofuels, meeting the general requirements for algae production. More specifically fewer than 100 are being actively researched. These algae species one primarily unicellular or diatom microalgae, producing either:

• High carbohydrate (sugar) compositions most suitable for ethanol production, or
• High lipid (fats/oils) compositions most suitable for production of biodiesel, or
• High hydrocarbon compositions most suitable for production of renewable distillates.

Algae.Tec’s primary focus has been directed toward microalgae as the most efficient photosynthesis species for biofuels production. The optimum selection of the algal species for biofuels production depends on the ability to sustain the culture (resilience and reliability); species growth rate; the biomass specific contents of lipids, carbohydrates and proteins (combined productivity); and the overall supporting photosynthesis environment. Algae.tec has identified several suitable microalgae.

BENEFITS WITH ALGAE

Current trends in higher oil prices, continuing escalation of fossil fuel consumption, the depletion rate, advances in technology development and governments’ increased focus on global warming and renewable fuels have attracted new interest in algae as a potentially rich source of sustainable biofuels. Since 2006 there has been an explosion in government, university and private-sector industry interest in algae as a renewable fuel. This is manifested in the form of millions of dollars of investment in research programs.

The Benefits of Algae as a renewable fuel source are significant:

• Represents the most efficient and fastest production cycle for converting solar energy and carbon dioxide into renewable and sustainable fuels.
• Effectively sequesters today’s atmospheric carbon dioxide, favorably balances greenhouse gas production and reduces the long-term impact of global warming.
• Produces orders of magnitude more oil and hydrocarbons per land mass than any terrestrial crop, and can be cultivated virtually anywhere.
• Hydrocarbons derived from algae production can be used to produce renewable biofuels for direct substitution of fossil fuels, reducing dependence on external supply.
• Non-competition with traditional food crops for fuel production, providing a long-term sustainable fuel source not derived from food source vegetable oils.
• Provides environmental solutions for recovery of toxic stackgas pollutants and remediation of polluted water streams.
• Biofuels derived from algae provide a significant reduction in vehicular exhaust emissions versus standard fossil fuels (gasoline and diesel fuel).

The above benefits highlight the primary drivers and provide the basis for Algae.Tec’s business strategy.

COMMERCIALISATION OF ALGAE

Algae production basically includes the sourcing of carbon dioxide, water, nutrients and light energy to the photosynthesis system for conversion to algae of a specific composition.

• Carbon Dioxide Source – There are a number of potential carbon dioxide stackgas sources with high CO2 concentrations preferable for algae production, including power plants and energy intensive manufacturing facilities.
• Water Supply – Water provides the critical hydrogen source for photosynthesis. Various algae species thrive in fresh water and/or high salinity water environments. Certain wastewater streams, containing high levels of nutrients, may also be effectively utilized for algae production.
• Nutrient Source – The primary nutrients required for photosynthesis include nitrogen and phosphorous, sourced from conventional N/P fertilizers.
• Light Energy – Sunlight provides the main energy source for conversion of CO2 and water into algae, generally 70% to 85% of the total energy requirements. Only the visible light portion of sunlight is useful for algae production and more specifically certain wavelengths are more efficiently absorbed.
• Algae Composition – The composition of algae product is highly dependent on the specific species utilized and the photo-synthesis operating conditions employed. Algae products contain from 45% up to 80% carbon content in the form of lipids/oils, carbohydrates, proteins and hydrocarbons.

The algae production process is illustrated in the following diagram, including raw material and energy sources, major algae product components and a summary of key end-use markets.

Algae production basically includes the sourcing of carbon dioxide, water, nutrients and light energy to the photosynthesis system for conversion to algae of a specific composition.

• Carbon Dioxide Source – There are a number of potential carbon dioxide stackgas sources with high CO2 concentrations preferable for algae production, including power plants and energy intensive manufacturing facilities.
• Water Supply – Water provides the critical hydrogen source for photosynthesis. Various algae species thrive in fresh water and/or high salinity water environments. Certain wastewater streams, containing high levels of nutrients, may also be effectively utilized for algae production.
• Nutrient Source – The primary nutrients required for photosynthesis include nitrogen and phosphorous, sourced from conventional N/P fertilizers.
• Light Energy – Sunlight provides the main energy source for conversion of CO2 and water into algae, generally 70% to 85% of the total energy requirements. Only the visible light portion of sunlight is useful for algae production and more specifically certain wavelengths are more efficiently absorbed.
• Algae Composition – The composition of algae product is highly dependent on the specific species utilized and the photo-synthesis operating conditions employed. Algae products contain from 45% up to 80% carbon content in the form of lipids/oils, carbohydrates, proteins and hydrocarbons.

The algae production process is illustrated in the following diagram, including raw material and energy sources, major algae product components and a summary of key end-use markets.

Timothy Morrison (Non executive Director)

Tim is the current Director of Research and Development at Murdoch University. He has responsibility for the provision of high level support to the Pro Vice Chancellor (Research) in the management of research and the commercialisation of the University’s Intellectual Property. His primary responsibility in this position is to extend existing research relationships, and to develop new links with business and industry. His role is the key driver and catalyst for the University’s continuing development of global research and training, as well as its application to economic and national benefit.

Tim represents the University on the Boards of a number of companies engaged in the commercialisation of University IP.

Prior to his current position, he was General Manager of MurdochLink Pty Ltd, the commercial arm of Murdoch University, which is the dedicated provider of quality research consultancy services to the professions, industry and government.

Tim has a BA (1st Hon) from Murdoch University, a Post Grad Diploma (Social Research Methods) from Murdoch, and an MBA (Financial Management) from the University of Western Australia.

Peter Ernest Hatfull (Managing Director & Company Secretary)

Peter has over 30 years experience in a range of senior executive positions with Australian and International companies. He has an extensive skill-set in the areas of business optimisation, capital raising and company restructuring.

He was recently Managing Director of a leading integrated metal recycling and contracting company, CMA Corporation Ltd, based in Sydney, where he managed a period of dramatic growth and increased profitability. Prior to this appointment, he held senior financial and Board positions in Australia, Africa and the UK. He has particular experience in turnaround and slow growth situations, where companies have struggled to expand their business. This has required revitalising the business plan, attracting investor funding, and implementing profitable strategies. Peter is currently a director of Teco Pty Ltd, Kresta Holdings Ltd, Barminco Pty Ltd and is based in Perth, WA.

Peter graduated as a Chartered Accountant in the United Kingdom, where he worked for Coopers and Lybrand ( now PriceWaterhouseCoopers ), and subsequently moved to Africa, where he spent 8 years in Malawi, where he was CFO of the Malawi operation of international trading group, Guthrie Limited. Peter moved to Perth in 1988.

Garnet Earl McConchie (Executive Director)

Earl has over 35 years experience over a broad field of chemistry and associated technologies, including global markets, bulk chemicals and plastics, differentiated commodities and intermediates, specialty chemicals, polymers and interaction with environmental sectors.

Earl’s field experience includes international business management, plant operations, and project engineering in the US, Europe (especially Germany, Holland, Switzerland, UK and CIS), Latin America (Brasil, Argentina and Mexico) and Asia (Korea, China and Australia). Earl was employed with Dow Chemical Company for 25 years. He served as Global Director for chemicals and plastics in the latter part of his employment.

Subsequently Earl was employed with Lockwood Greene and Foster Wheeler Corporation.

Earl has over 10 years of specific technical and business experience in the biodiesel and glycerine industry sectors. He is a founding director and controlling shareholder of Teco.Bio LLC, and is based in Atlanta, Georgia where he has co-ordinated the microalgae development.

Earl has received a BSc (Chem Eng) from Virginia Polytechnic Institute & State University, and a ME Chemical Engineering from Texas A & M University. He is a registered Professional Engineer, Member of the National Society of Professional Engineers, The American Institute of Chemical Engineers, and the Society of Plastic Engineers.

Roger Sydney Stroud (Executive Chairman)

Roger has over 35 years experience in a variety of industries. He spent over 10 years in finance in a number of areas including credit, money market and investment banking for CitiNational (Citibank/National Mutual) merchant bank, predominantly in Sydney.

Following the above, he floated a mining company, with a head office based in Sydney, and undertook the role of managing Director for 8 years. After floating a manufacturing company, and overseeing the building of a modern brickworks in Perth, Roger provided advisory services to mining and manufacturing businesses for a number of years. In the late 1990s, Roger began the process of building businesses in the renewable fuel sector, primarily biodiesel. This included floating two separate biodiesel companies,. Roger is a founding director and controlling shareholder of Teco.Bio LLC, and is based in Perth, WA.

Roger has received a BSc from Sydney University, majoring in Chemistry and Geology, and a BA (Economics) from Macquarie University. He is currently chairman of the “Centre for Research into Energy for Sustainable Transport”, a collaborative of Curtin and Murdoch Universities, based on Murdoch Campus.

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