Biofuel company Algae.Tec, which in September signed a collaborative agreement with Lufthansa, has gained approval from the Australian government for an A$12.15 million cash refund on Australian and overseas development expenditure for the financial years 30 June 2012 to 30 June 2015.
The deal allows for an initial A$27 million spend on Algae.Tec technology developments, of which the Australian government will reimburse 45% or $12.15 million. The money will support funding of at least three algae bioreactor facilities in Australia, Asia and the US.
Biofuel company Algae.Tec, which in September signed a collaborative agreement with Lufthansa, has gained approval from the Australian government for an A$12.15 million cash refund on Australian and overseas development expenditure for the financial years 30 June 2012 to 30 June 2015. The deal allows for an initial A$27 million spend on Algae.Tec technology developments, of which the Australian government will reimburse 45% or $12.15 million. The money will support funding of at least ...
Subscribe to Access this Entire Article
"Algae.Tec gets Australian government support for bioreactors" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.
