There was a system in China, just not as you know it:
The Chinese government granted land adjacent to an industrial site in Wahan, China. Algae from the project is used to generate 47 percent oil, which is extracted and sold to biodiesel producers. The remaining algae biomass is converted into biogas used to fuel microturbines and produce electricity.
This was a BioCentric (BEHL) partnership with Zenxin of China. Specifically, this partnership resulted in the formation of BioCentric Energy Algae Hong Kong Ltd (BCEA:HK).