According to the company, the acquisition has provided the funding necessary to bring PetroAlgae’s renewable energy technology to full commercial scale. Financial terms of the transaction were not disclosed.
Ottmar Dippold, CEO of PetroAlgae, said: PetroTech will significantly accelerate PetroAlgae’s advance to commercialization. We are now poised to take the final strides toward deploying a technology that will have a huge impact on the marketplace.
