INTERVIEW-U.S.-Israeli Firm to Launch Algae Biodiesel in India
by Tova Cohen (Reuters) Algae-based biodiesel producer World Health Energy Holdings (WHEN) plans to begin two commercial projects in India this year and is targeting over $200 million in sales in 2013.
The first project, with Prime Inc of India, will grow algae on 250 acres at a cost of $100 million and produce $150 million in biodiesel as well as protein for animal and fish feed or that can be turned into ethanol, WHEN Chairman Chaim Lieberman said.
Prime, which provides infrastructures and transportation services to oil companies, will put up the funding in exchange for a 70 percent stake in the project.
The second project, with SHK Energy Projects of India, will comprise a $25 million, 45-acre algae farm expected to bring in $35 million in revenue. READ MORE