Biofuel company Aquaflow is looking to raise hundreds of millions of dollars globally to build itself a refinery.
According to a Fairfax report, Aquaflow is out to build a biofuel refinery and skip a previously-planned small-scale pilot plant, either in New Zealand, Australia or the US.
In 2006 Aquaflow announced it had produced the world’s first bio-diesel derived from wild micro-algae sourced from local sewage ponds.
It has partnered with Houston-based CRI Catalyst, initially under a joint testing and evaluation deal, and now as part of a technology cooperation agreement.
Aquaflow director and cofounder Nick Gerritsen said about 150 investors have put about $8.5 million into Aquaflow over the past six-plus years.