The deal includes an exclusive license for GNE’s turnkey algae systems both to build its own facilities to compete as a supplier for bio-diesel and to supply and build GNE algae system joint ventures with utility companies and state governments that want to create their own source of clean green diesel.
The company said the GNE system recycles waste water, and the system anticipates a yield of a marketable edible protein product that can be used for both animal feed and human food products.
SLRX director Bruce Levy said unlike some alternative fuel sources, bio-diesel supports the current infrastructure of trucks, trains and power generation.
"Our output goes directly to conventional oil refineries and will produce high quality diesel," Levy said.
The GNE patents and processes improve both the cost of growing the algae and reduce the costs of extracting the oil used for diesel fuel production.
