Shanghai Jun Ya Yan Technology Development Company has developed an agreement with PetroSun whereby it will provide $40 million (US) for the construction of an algae farm facility inside China and split profits with PetroSun 50/50 in exchange for PetroSun’s propriety technology and expertise.

Along with planned ethanol and biodiesel output, the press release states that the facility will be producing “other commercial products” from the algae. I’m guessing that means livestock feed supplements made from what’s left of algae carcasses after they’ve been squeezed for oil and turned into ethanol — but maybe they have another surprise up their sleeves?

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The facility, located in Rio Hondo Texas, will produce an estimated 4.4 million gallons of algal oil and 110 million lbs. of biomass per year off a series of saltwater ponds spanning 1,100 acres. Twenty of those acres will be reserved for the experimental production of a renewable JP8 jet-fuel.

Gordon LeBlanc, Jr., CEO of PetroSun, had this to say:

“Our business model has been focused on proving the commercial feasibility of the firms’ algae-to-biofuels technology during the past eighteen months. Whether we have arrived at this point in time by a superior technological approach, sheer luck or a redneck can-do attitude, the fact remains that microalgae can outperform the current feedstocks utilized for conversion to biodiesel and ethanol, yet do not impact the consumable food markets or fresh water resources.”

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