The agreements include an exclusive license for GNE’s full commercial turnkey algae systems, both to build its own facilities to compete as a supplier for bio-diesel and to supply and build GNE algae system joint ventures with utility companies and state governments that want to create their own source of clean green diesel.
The company claims that GNE’s patented systems make algae-based bio-diesel more competitive than other plant based systems.
The GNE patents and processes improve both the cost of growing the algae and reduce the costs of extracting the oil used for diesel fuel production.
According to the company, both the companies are also planning to staff the new subsidiary.
