PetroSun Incorporated (PSUD.PK) reports that they are planning an Algae to BioDiesel demonstration to take place in August, 2007 in Alabama.
The purpose of this event will be to demonstrate to the alternative energy and transportation fuel industries that algae-to-biodiesel is a viable commercial option to supply biodiesel to the marketplace.
PetroSun intends to establish its initial commercial scale algae-to-biodiesel plants in Alabama, Arizona, California and Australia.
The recent announcement of the Alabama demonstration has generated tremendous interest in the algal oil product and the Company has initiated discussions with several existing and planned biofuel producers regarding potential sales and joint venture agreements.
These biofuel producers are experiencing increased costs and supply shortages from soy, corn and palm oil feedstock. The algal oil may prove in the near future to be a sustainable feedstock that is not controlled by the commodities market.
The Company is moving forward with its planned transaction with Icon Energy to form PetroSun BioFuels as a publicly traded alternative fuels company based in Australia.
The Australian entity will produce and market algae-derived biofuels in Australia and will expand into other regions based on its production capabilities and market demand.
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