Vancouver, British Columbia – LCTI Low Carbon Technologies International Inc., a diversified company focused on the Clean-tech, Construction, Energy & Energy Efficiency, Environmental, Mining and Real Estate business sectors, announced today that it has entered into a joint venture with Sunthenoil LLC. The joint venture plans to develop a 1,000 acre Algae to Oil Project located on LCTI real estate assets.
The joint venture intends to utilize a technology as sub-licensed through Sunthenoil LLC from SunEco Energy of California. Benefits of the development include the fact that production of oil from algae: is renewable, is carbon neutral, makes a positive contribution to the food supply through the use of non-agricultural land and the production of livestock feed supplement, and can be integrated into the existing transportation infrastructure. When complete, the project is expected to produce approximately 33 million gallons +/- of biodiesel and 30 million gallons +/- of animal feedstock supplement annually.
The biodiesel produced using the proprietary process has been used successfully in multiple vehicles including on-road and dyno tests by a major trucking company and diesel fuel consumer. Additionally, a valuable by-product of the process is a high-protein, fatty biomass product useable as a livestock feed supplement which has been successfully tested in preliminary tests of cattle with tests administered by a noted bovine specialist at UC Davis.
“We believe this investment represents a significant opportunity to produce clean, renewable energy, in combination with a natural livestock feed supplement. This transaction represents another example of how LCTI management continues to execute its business model by leveraging it’s a small portion of the company’s real estate assets to secure interests in clean-tech projects and joint ventures”, stated LCTI CEO Bryan S. Jarnagin.