World Health Energy Holdings announces addition to existing MOU
World Health Energy Holdings Inc. announced progress has been made with its Letter of Intent with Prime Inc., an industrial transport company in India. World Health Energy Holdings Inc. is a public holding company that aims to develop joint venture partnerships for algae production, which would be used as feedstock for biodiesel and commercial fish food. According to information released by the company, the project with Prime would include the development of a biodiesel production facility that includes 250 acres of algae production. The budget for the project could be up to $100 million.
While a representative of World Health Energy Holdings was unavailable for further comment on the announcement, information released by the company noted that it has provided Prime with the first batch of samples of its Spirulina algae. Those samples have been tested by independent laboratories selected by Prime. World Health Energy Holdings also noted that as a result of those testing activities, Prime decided to add a Spirulina Algae project to its Original Memorandum of Understanding.
The MOU was originally announced in December. At that time, the companies announced that they had selected proposed sites for two algae farms within India, in Tamil Nadu and Karnataka. The sites are both expected to feature an algae enhancement technology, referred to as the GB 3000 system. As part of the initial announcement, World Health Energy Chief Financial Officer Liran Kosman said his company is looking forward to working with Prime to design, develop and support a cost-efficient algae production farm. He also noted that operations are anticipated to scale up in 2012.
World Health Energy Holding gained access to the GB 3000 system through the 2011 acquisition of GNE-India, and algae technology company with distribution rights to the system. A video posted to the company’s website shows that the algae production technology features tubular photobioreactor systems rather than open ponds.
“We look forward to working with Prime Inc. India in the design, development and support of a cost-efficient algae production farm,” said Kosman in the most recent announcment. “We anticipate scaling up operations and completing a number of significant algae projects in 2012. It is exciting to see that our customers are not only impressed with the competitive cost of our systems, but are also surprised by the high quality of the algae we grow for high-yield biofuel production.”