PetroAlgae, Inc. (PALG.OB) Agreement with Asesorias e Inversiones Quilicura to Bring Large Scale Biomass Production to Chile
PetroAlgae Inc., a dynamic alternative energy producer focused on establishing a first-mover advantage in the biofuels sector using a revolutionary continuous harvesting process and a variety of licensed commercial micro-crops, today announced the signing of a memorandum of understanding with Asesorias e Inversiones Quilicura (AIQ) aimed at developing micro-crops in Chile. The agreement gives AIQ (a major shareholder in the well-known Chilean busing company, Subus Chile S.A.) the option to license PALG’s easily modifiable and modular system that enables a continuous harvesting process of a variety of commercial micro-crops, in order to produce biofuels like “green” gasoline, jet fuel, diesel…