Algae Floating Systems Is Temporarily Shifting Its Focus Away From Fuels
South San Francisco, California – March 3rd, 2015 – Algae Floating Systems has announced today that due to the current trend in the biofuels market set by low crude oil prices, the company is temporarily shifting its focus away from fuel to nutraceutical and animal feed markets. “ We are shifting our focus away from fuels for the time it takes the crude oil prices to start climbing back up,” said Vadim Krifuks, President of Algae Floating Systems. “ Microalgae are very interesting organisms with multitude of unique qualities that have applications beyond just one market. At the moment the greatest potential is in nutraceutical projects with consecutive roll-out or projects in animal health and nutrition. We do believe that fuel markets will present an opportunity for massive deployment of our algae farms at some point in the future, and instead of waiting for the future to come, we are going after projects available today. ”
About Algae Floating Systems:
Algae Floating Systems is a company that develops and deploys algae-based carbon capture and sequestration systems for power plants and industrial facilities that profitably convert CO2 and solar energy into renewable fuels and other valuable products. In the long term the company plans to deploy AFS Biofarms™ offshore to maximize the efficiency, cost and footprint of the systems.
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