Solarvest BioEnergy Inc. Acquires Algae Production Facility
Solarvest has made significant progress in its plans to use its patented algal technology to develop commercial products focused on health care. The Company recently completed negotiations to acquire a 30,000 sq. ft. facility in Summerville Prince Edward Island which will be repurposed to house the Company’s planned algal production. Solarvest has acquired the facility on a lease to own basis for $436,000 with an 8-year term, the previous owner had invested in excess of $2.2 million in developing the facility.