MCR will enable the issuance of loan guarantees from the World Bank.

The algae farm projects will use the GB3000, an algae enhancement technology for the efficient production of rapidly growing algae.

WHEN CFO Jeremy Werblowsky said the company expects to secure debt finance in a bid to enhance shareholder value.

The company has also acquired GNE-India, an algae technology company.

Millennium Capital Resources is a project development and financial advisory firm.