PetroSun launches USD40m algae joint venture in China

Thu Oct 2 2008, 23:46 PM

Shanghai Jun Ya Yan Technology Development is providing USD40m to fund a joint venture with US firm PetroSun to pilot commercial-scale algae production in China. The firms will take an equal share of any profits from the venture, which aims to produce and sell biodiesel and ethanol derived from algae. The firms may also produce other algae-derived products, for instance supplements for livestock feed.

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