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Algae.Tec Announces S&P research upgrade

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02/01/2012 | 12:24am CEST

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 the industry.

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.

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