Perth, Western Australia/Atlanta, Georgia - 31
January 2012 - Algae.Tec Ltd (ASX:AEB, FWB:GZA:GR,
ALGXY:US) ('Algae.Tec') is pleased to announce that
Standard and Poors (S&P), the New York based financial
services company known for their financial research and
analysis have, in conjunction with Algae.Tec, upgraded the
status of Algae.Tec's American Depository Receipt program
(ADR), the USA share trading platform.
S&P has commenced Factual Stock Report coverage on
Algae.Tec providing financial data and analysis to key USA
brokers, dramatically upgrading and extending the reach and
profile of the Company in the USA investor community.
This coincides with the Company's successful $5M capital
raising with Patersons Securities Limited. This capital
raising will be utilised to fund the fast-tracking of
commercial projects recently announced.
S&P specialises in providing financial data and analysis
for investors and wealth mangers through their S&P Capital
IQ branch. This analysis is now being completed for
Algae.Tec bringing with it financial intelligence and
insight for investors.
Company's Executive Chairman, Roger Stroud said Algae.Tec
is a fast-growing company with a global focus and projects
underway in the EU, China, Sri Lanka and Australia, so it
is important to keep the investor community informed about
the Algae.Tec opportunity.
"The S&P coverage will extend our reach to a wide range of
investor audiences in the USA and internationally providing
weekly updates on pricing, trading volume, recent
developments, a financial review, key operating
information, industry and peer comparisons, and
institutional holdings analysis," said Stroud.
Algae.Tec is an advanced algae to biofuels company with a
high-yield enclosed algae growth and harvesting technology,
the McConchie-Stroud system.
About Algae.Tec www.algaetec.com.au
Algae.Tec, founded in 2007, is a publicly listed advanced
renewable oil from algae company that has developed a
high-yield enclosed algae growth and harvesting system, the
McConchie-Stroud System. The company has offices in
Atlanta, Georgia and Perth, Western Australia.
The Algae.Tec enclosed modular engineered technology is
designed to grow algae on an industrial scale and produce
biofuels that replace predominantly imported fossil fuels.
The technology has demonstrated exceptional performance in
productivity, product yield, carbon dioxide sequestration,
and production unit footprint requirements versus
agricultural crops and other competitive algae processes in
About S&P Capital IQ
S&P Capital IQ, a brand of the McGraw-Hill Companies
(NYSE:MHP), is a leading provider of multi-asset class
data, research and analytics to institutional investors,
investment advisors and wealth managers around the world.