Biocentric Energy Holdings, Inc. (BEHL)

[beastieboy]

Interesting Article....


VIRGINIA BEACH, Va. - Old Dominion University, Virginia Beach and several partners are looking to an algae farm to develop biofuels.

The proposal would develop a $50 million algae farm on city-owned land. The aquatic growth would be converted into biodiesel fuel and other forms of alternative energy.

But the proposal hinges on federal stimulus money from the U.S. Department of Energy. The group is asking for $46 million from a $100 million pool set aside by the Obama administration for advancing algae-to-biodiesel technology. A decision about the funding is expected by the end of the year.

The money would finance three years' worth of development and construction of the algae-growing farm, harvesting areas and conversion equipment.