Algae Floating Systems Subsidiary Is on Schedule to Demonstrate a 1,000 Gallon/Yr Production System

South San Francisco, California – April 5th, 2011 – AFS BioOil Co., a subsidiary of Algae Floating Systems, Inc. (AFS) has announced today that construction of a 1,000 gallon/yr production system is on schedule and is expected to come online in the third quarter of 2011. The components of the production system are AFS algae cultivation, harvesting and processing technologies. The products are algae oil and cake. Algae oil is used for production of FAME biodiesel and cake is used for production of biogas and electricity.

About AFS BioOil:
AFS BioOil Co. was formed in 2010 as a spin out of Algae Floating Systems, Inc. The company is focused to use AFS technologies to produce traditional biodiesel at points of high demand. FAME biodiesel is produced by processing algae oil through a chemical process called transesterification. The fuel can be used in its pure form as a diesel substitute or added to diesel to produce a biodiesel blend such as B-5 or B-20. The strategic goal of the company is to become a major algae biodiesel supplier.

About Algae Floating Systems:
Algae Floating Systems is a company that develops and deploys algae-based carbon capture and sequestration systems for power plants and industrial facilities that profitably convert CO2 and solar energy into renewable fuels and other valuable products. In the long term the company plans to deploy AFS Biofarms™ offshore to maximize the efficiency, cost and footprint of the systems.

Press Contact:
Vadim Krifuks
Tel: 650.866.5038

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