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Nov 19, 2007 10:58 AM

Green Star Products Inc, San Diego CA, announced that it has signed a contract to build a 100-acre commercial algae facility in the Midwest for biodiesel.

Biotech Research Inc, a Consortium partner with GSPI, has signed the contract with Green Star to start initial preparation and material acquisition for field construction to begin in March 2008.

The 100-acre algae facility will be constructed adjacent to an existing biodiesel plant and will use the carbon dioxide emitted from the biodiesel plant's boilers to feed a portion of the algae facility needs. The algae oil produced from the facility will be turned into biodiesel through the existing biodiesel plant facilities. GSPI will construct the algae production facility and operate it for 18-months and will participate in ongoing royalties with BTR from sales of algae oil and high protein meal.