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Lufthansa signs biofuels production agreement with Algae Tec
Lufthansa (LH) and Australia-based Algae Tec have signed a collaborative agreement to build facility that would produce algae on a large scale and convert it to aviation biofuels.
The site will be in Europe and located adjacent to an industrial CO2 source, the companies said in a statement.
LH will arrange 100% funding for the project while Algae Tec will manage it and receive license fees and profits.