NEWS...
Nov 7, 2008 13:13:14 (ET)
BOCA RATON, FL, Nov 07, 2008 (MARKET WIRE via COMTEX) -- Neptune Industries, Inc. (NPDI, Trade ) announced today that it has made advancements in its floating algae system design and is beginning to harvest trial batches of algae for testing oil content under its Grant from the State of Florida Farm to Fuel Program.
Since obtaining the grant in February 2008 to develop an integrated algae production system for bio-diesel feedstock, Neptune has made a number of successful advancements in the system design to promote better circulation and growth. Utilizing fish waste from an integrated fish/algae operation significantly reduces labor costs, eliminates fertilizer expenses, and helps to purify fish production effluent. The Company believes this creates a very promising model for commercial expansion. Neptune has been contacted by numerous bio-fuel processors who are interested in purchasing algae for feedstock in their facilities. Further, with the price of fertilizers sky rocketing, certain land-based algae producers are concerned that if fertilizer costs continue to rise, it may make algae production costs prohibitive for operations that are not integrated. Neptune has a natural solution to the problem since it captures solid waste during the production of fish in its aquaculture operations. This waste has proven very desirable, cost effective, and reliable not only for algae production but for use in production of hydroponic crops, organic fertilizer, and bio-gas.
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