Reliance Industries To Invest In Algae.tec And Fund Its First India Plant-e3300

Business Continuing in its rapid expansion in diverse fields, Reliance Industries Limited (RIL) has announced an investment in Australian algae fuel developer Algae.Tecs first Indian biofuel plant. The Indian Market represents a possible huge market for the Perth-based .pany and many .panies are eyeing setting up shop here. Mukesh Ambani owned RIL will initially invest $1.5 million in the Australian .pany followed by $1.2 million at a later date. Using the initial capital, Algae.Tec plans to build a pilot biofuels plants using its algae fuel technology. Reliance Industrial Investments and Holdings Limited (RIIHL) will fund the small pilot plant which will capture Co2 emissions and turn this into algae for use as biofuels. This pilot plant is designed with a view to modify the present technology to suit the local conditions. This will most probably lead to a larger demonstration plant. In the future though, we anticipate that RIL and Algae.Tec will join forces to establish .mercial plants in India. In that respect, Reliance has the edge as it has exclusivity over the technology in the India market. While various people have been speculating over the location of this pilot plant, sources say that it will be amidst the huge petroleum refineries in Jamnagar, Gujarat. Algae.Tec has been confident about the positive impact the .panys technology will have on Indias energy sector. The Australian .panys managing director Peter Hatfull is of the opinion that algae technology had the potential to make a significant impact on Indias energy and environmental requirements. He was further quoted as saying, This is a major step for us. India is a perfect market place for our technology It is an absolutely gigantic market (Sic).These .ments .e on the back of widespread criticism of the Indian energy sector which hasnt ceased its huge reliance on coal-fired generation and the lack for demand of clean biofuels. In December 2013, Algae.Tec said it would focus on the nutraceuticals market. Nutraceuticals are dietary supplements that support physical and mental health. The.panys move away from algal fuels was influenced by the low capital costs of the former, as well as the potential for high gross margins on revenue, and significant market potential. With this move, the revenue that the .pany expects to generate in the next three years is significantly more than its present as the nutraceuticals market is touted to be worth $205 billion globally by 2017. About the Author: 相关的主题文章: