December 27, 2008

PetroAlgae Raises More Capital to Develop Biodiesel

ARTICLE TOOLS        | E-MailPrint Subscribe

Send an e-mail to colleagues Please fill out the form below to send a link to this story to your colleagues.
Your Name:	Your E-mail:
Colleagues' E-mail (Separate each address with comma):
Message: (Max. 500 chars.)
Enter the verification code as it is shown below without spaces. (Not case-sensitive) Enter Code: What's this? Image Code Verification Automated programs can't "read" the code you see in the box: only humans can. When you enter this code, it ensures that your order is going to a real person. If you don't see an image, make sure your browser is set to display images and try again. If you're not sure what the code is, make your best guess. If you're incorrect, you'll get another chance to enter a different code on the next screen. Close
CANCEL

MELBOURNE, FL --- PetroAlgae Inc., a developer of systems to derive biodiesel fuels from algae, announced it has closed on a $10 million capital raise through the sale of approximately 3.2 million of newly issued shares of common stock to two existing investors.

"The proceeds from this offering are expected to help finance the launch of PetroAlgae's most significant milestone to date, the commercialization of its first biodiesel product derived from algae," said Dr. John Scott, chairman of the board of PetroAlgae Inc. "As a result, 2009 could represent the breakthrough year not only for PetroAlgae but for the entire biodiesel and alternative energy markets."

PetroAlgae is commercializing new technologies to grow and harvest oil from algae.

[ Request more info about this product/service/company ]

Request More Info Fill out the form below to request more info regarding the company/product/service featured in the story.
* Name:	Company:
* E-mail:	Phone:
Preferred contact method: EmailPhone
I would like info on the following:
Enter the verification code as it is shown below without spaces. (Not case-sensitive) Enter Code: What's this? Image Code Verification Automated programs can't "read" the code you see in the box: only humans can. When you enter this code, it ensures that your order is going to a real person. If you don't see an image, make sure your browser is set to display images and try again. If you're not sure what the code is, make your best guess. If you're incorrect, you'll get another chance to enter a different code on the next screen. Close
CANCEL