GreenFuel Technologies on Tuesday is expected to announce what few in the algae fuel business can claim--a paying customer.
The Cambridge, Mass.-based company detailed a multi-year deal worth $92 million to build greenhouses that grow algae, which can be harvested for vegetable oil to make biodiesel or to make animal feed.
In the greenhouses, the algae will be fed sunlight and carbon dioxide from the Holcim cement plant near Jerez, Spain.
The project developer is Spain's Aurantia, which specializes in renewable energy. GreenFuel executives have said they are pursuing other deals with large polluters, such as utilities and … Read more