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.
Idealog has been covering the most interesting people, businesses and issues from the fields of innovation, design, technology and urban development for over 12 years. And we're asking for your support so we can keep telling those stories, inspire more entrepreneurs to start their own businesses and keep pushing New Zealand forward. Give over $5 a month and you will not only be supporting New Zealand innovation, but you’ll also receive a print subscription, an Idealog t-shirt and a copy of the new book by David Downs and Dr. Michelle Dickinson, No. 8 Recharged (while stocks last).