% | $
Quotes you view appear here for quick access.

Exxon Mobil Corporation Message Board

  • bluecheese4u bluecheese4u Aug 19, 2013 8:44 PM Flag

    Algae International Group Signs Agreement with Gulf Hydrocarbon for future Algae Oil

    Algae International Group Signs Agreement with Gulf Hydrocarbon for future Algae Oil

    New contract could provide long term cash flow.

    Dallas TX (PRWEB) August 19, 2013

    Algae International Group Inc. (OTCBB:ALGA) and Gulf Hydrocarbon, Inc. (“GULF”) have signed an agreement for GULF to exclusively represent ALGA in sales and distribution of ALGA’s proprietary and non-proprietary algal oils and products created with the algal oils. The exclusive representation agreement takes effect immediately and is a precursor to ALGA’s commercial production of algal oils from its pilot facility located in Tulare, California.

    GULF will distribute and sell ALGA’s algal oils for further processing into fuels and all ALGA’s products made with the algal oils as well as ancillary products of gaseous fuels and electric power.

    ALGA advises that it will start the relationship with GULF by shipping samples of proprietary and non-proprietary algal oils for testing as feedstocks for biodiesel. Jess Hewitt, Chairman of Gulf Hydrocarbon, said, “Algae oils were approved by the EPA for use as a biodiesel feedstock in 2010 but we have yet to see the feedstock available. By shipping samples to the biodiesel producers, we can begin the process of registering the numerous production plants with the EPA.”

    As a part of the agreement, GULF will offer standard biodiesel reference fuels made using ALGA’s output from its pilot facility. According to Jess Hewitt, “In order to satisfy the OEM’s requirements for engine and material compatibility we must be able to supply a standard reference fuel before the engine manufacturers can certify use of the algal-based biodiesel in vehicle and non-road engines. Gulf Hydrocarbon will be responsible for quality control and packaging of these fuels for distribution to fuel laboratories and OEM testing facilities.”

    In addition to the representation of ALGA’s oil and related products, GULF will also represent ALGA for the sale and distribution of excess biogas an

81.03+1.43(+1.80%)Feb 12 4:00 PMEST