SEE ALGAE Technology GmbH Announces Sale of Algae Farm to Brazil’s Grupo JB

SEE ALGAE Technology GmbH (“SAT” or the “Company”), a leading developer of infrastructure for the commercial production of high-quality algae, announced today that it had signed an agreement to supply and install a 1 hectare “dual-use” algae production plant for Recife, Brazil-based Grupo JB (“JB”), one of the leading bioethanol producers in Brazil. Once operational, this farm will primarily be utilized to produce algae biomass and bioethanol from both natural and genetically modified algae strains. Algae biomass is used as a replacement for soybean meal in feed for livestock and fish. This production process will also yield algae lipids which can be used to make biodiesel and certain biochemicals, among other compounds.

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