The near term goal of the joint venture is the start up of production to a minimum capacity of providing one million liters of Algal Oil to EFG by the last quarter of 2012.
"This is our fourth LOI in India, with two advancing to the Memorandum of Understanding (MOU) stage,” said Jeremy Werblowsky, CFO of World Health Energy Holdings. “The very real interest in our GNE GB 3000 system from a number of potential joint venture partners is very encouraging.
“WHEN is now working towards the development of algae commercial farms of 2.5 acres to 250 acres,” Werblowsky continued. “As a frame of reference, with our proprietary algae growth enhancement technology WHEN can produce over 700,000 litres monthly on 25 acres. And as we scale up to a 250 acre project, we can produce over 7 million litres on a monthly basis."
World Health Energy Holdings, Inc. recently acquired GNE-India, an algae technology company with the distribution and licensing rights to a unique and innovative technology, the GNE GB 3000 system, to grow algae quickly and efficiently for the production of bio-diesel and commercial fish food protein.
GNE-India owns and retains the territorial rights for distribution and sales of the proprietary technology to both India and Sri Lanka. The company has exclusive distribution and licensing rights to the GNE GB 3000 system in India and Croatia.
Earlier this year, the GB 3000 system was used to grow a combination of local algae species, as well as Chlorella, targeting the product to the fish feed and bio-diesel markets.
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