Utah company Green Star Products is in final negotiations with its consortium partners regarding a deal to build the largest closed vertical algae bioreactor in the world.
Last week the firm based in Salt Lake City called off an auction of the US licensing rights for its technology, which was to have been held in September.
It will continue to auction off the rights to use its algae growth biotechnology outside US borders.
However, the company is now pursuing plans to develop a 10 million liter continuous algae culture facility, which could also be expanded in future phases.
Green Star president Joseph LaStella said: The auction on September 9th was to offer the algae growth biotechnology for the United States only. The plans to auction this technology in other countries will still proceed as planned.”
Mr LaStella added: “The auction of the U.S. technology rights may be postponed indefinitely pending the outcome of the final negotiations to build the world’s largest algae bioreactor.”
Technology
Green Star says its technology offers the chance to make commercial amounts of biomass from algae processes.
In offering up its licensing rights, it claimed its process can increase algae growth “by up to and exceeding 200% in six day growth cycles” when compared to present industrial growth methods.
Testing on the technology has been carried out at the University of Baja California.
Green Star’s consortium partners include United Biorefineries Corporation, Biotech Research, Inc., and various other investors including Korean and Chinese participants.
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