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Reliance invests in Australia-based biofuels firm

9:14 AM MST | January 23, 2014 | Francinia Protti-Alvarez

Algae.Tec (Perth, Australia) has received a A$1.5-million ($1.33 million) investment from Reliance Industrial Investments and Holdings Ltd. (RIIHL), a subsidiary of Reliance Industries, to fund the internationalization of Algae.Tec's biofuels division through construction of a pilot plant in India, Algae.Tec announced.  RIIHL will make additional investments of A$1.2 million over the next two years. The investment forms part of various accords that  encompass a subscription agreement, and technical and equipment supply agreements. These detail the...

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