AFS Commissions an Algae Demonstration Facility


South San Francisco, California – December 1st, 2008 – Algae Floating Systems, Inc. (AFS) today announced that it has commissioned a new 12,000 liter working demonstration unit in the San Francisco Bay Area. This improved generation 6 demonstration facility is a gateway for AFS to the next step of building a commercial-scale facility.

The working demonstration unit is a full-scale section of the proprietary AFS photobioreactor (except for length) deployed this time on the company owned property. This imposes no restrictions on the quantity and length of the future tours, which allows AFS to demonstrate the technologies in greater detail to the visitors.

The facility proves:
  • feasibility of AFS photobioreactor (there is no scale up issue as the demo is a full-scale);
  • the cost of AFS Biounit™, which produces 10MGY of algal oil and sequesters annually 250,000 tonnes of CO2, will be less than USD35MM;
  • low operating expenses for harvesting and oil extraction;
  • the oil yield in AFS systems is over 20,000 gallons per acre per year;
  • algal oil production cost, which includes capital as well as operating expenses, on a commercial scale will be USD2 per gallon (USD80 per barrel or USD600 per tonne);
  • the first AFS Biounit™ can be built in 2009.
AFS is privately financed and is selecting a strategic partner for future development. At this time the tours are organized only for the potential partners.

About AFS:
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. http://www.algaefloatingsystems.com

AFS Press Contact and Tour Related Questions:
Vadim Krifuks
Tel: 650.866.5038
pr@algaefloatingsystems.com


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