Their offices, demonstrations, factory and presentations are all professional quality – it’s hard not to believe it will work

However if you have ever been to see a functional demonstration it will be unlikely you will actually see quantities of algae coming out the machine never mind an oil press that works. It all smoke and mirrors.

PRODUCTION Annual Algae production 18,000,000 Kg. Annual Oil production 8,100,000 Litres Annual production of Biodiesel 8,100,000 litres Algae cake annual production 9,900,000 Kg. Glycerine annual production 1,012,500 Liters Others (fat acid) 162,000 Kg. Ton of CO? removal 35,280 tons

Here is the initial quote I got from Algaelink for a 50 ton per day production plant

Sales Earnings Annual sales of Bio diesel $6,075,000 Algae cake annual $13,365,000 Glycerine annual $354,375 Others (fat acid) $40,500 Carbon fees $352,800 Annual incomes $20,187,675

The construction of all foundations, the building,required road-works and supply of all necessary utilities (e

COSTS Fertilizers $677,166 Wages $523,944 Energy $1,199,902 Hexane $64,800 Alcohol methyl $546,750 Catalyser $89,100 Local transportation $117,000 Maintenance spare parts $345,306 Administration costs (tel. office supplies..) $40,000 Insurances $288,203 Miscellaneous $80,000 Sales and representation $50,000 Amortization (5 to 10 years) $2,512,165 Interest $1,046,487 Total annual cost $7,580,824

COSTS / Liter or Kg. Ton / day biomass reactor 50 Cost per biodiesel liter $0.49 Cost per Kg of algae cake (tourte) $0.35 Cost per Kg of algae $0.32

After meeting with them – here is a quote for the same 50 ton plant. (after we waste tons of time and money on this project) We told them we wanted to go ahead and skip out the demonstration plant or at least do it at the same time thereby going into full production as soon as possible. Now this is what we got back. not a quote for $17mill (11.4mill Euros) as originally indicated BUT now for $119mill (80mill Euros). Why? because this is basically what it would cost and a lot more as this is completely based on best case production rates. This quote also offered no guaranteed production quantities and did not include the bio-diesel conversion equipment (costing millions) or the operational and chemical costs which are also in the millions – never mind the fact its all ex-vat) The original sales pitch was based on a 5 to 10 year amortization and the fact that you can actually sell mega tons algae cake for a great profit as the oil production is less than 50% of the goods. Now you are looking at a 900% loss and you will kiss 100% of your $119mill goodbye. The quote below details a production rate of 1200g/m3 per day. (based on what I don’t know) Compare this to the pilot plant they offer at 3.5 cubic meters capacity which seems to produce less than 1kg (or less) from all information sources – this is now claiming a production of 4.2kg a day equivalent – which is near impossible. So if the pilot plant covers 48m2 the 50ton plant would cover 2.4mill sq meters. (which is equal to 593 acres which is enough space to park 118600 cars) and this is probably best case scenario – worst case could be double this in size and could cost up to 3.45 billion euros if you use the pilot plant example. Now calculate the cost per litre of oil – $22/litre. It cannot and will not ever work – even if you work it out on best case scenarios it would cost about $5 a litre using the fantasy figures supplied.

«The Quote» Thank you very much for your interest in our Photo bioreactor technology. We are pleased to provide this Offer you have requested for an AlgaeLink Photo bioreactor plant based on your requirements of 50 ton per day. This system is based on using polycarbonate tubing. We have estimated the price at 80,000,000 euro for the photo bioreactor. This is based on a productivity rate of 1200g/m3 per day.We have estimated the price at 80 million euro for the photo bioreactor.. Without the results of the demo unit we cannot offer more exact costings at this stage. The monitoring of your system will indicate the realistic productivity on location and this result will impact on the design itself. Another very important issue that will reflect on the total cost is mentioned section 4 (terms of payment). The initial phase is the Preliminary Engineering and Project planning phase. Once the initial phase is accomplished AlgaeLink will address the final cost estimate together with the client. AlgaeLink is responsible for the design and control, however in phase 2 we discuss the options to buy the components locally. We recognize that the tubes and down stream components if purchased locally will reduce the total project cost significantly. Please find the offer details and delivery and payment conditions detailed below and technical and scope of supply information attached. This offer is for the design, manufacturing and delivery of a plant for the above stated capacity. The scope of the offer covers the Algae Reactor itself and not other components such as Carbon capture, harvesting and drying. The scope of the offer is provided in accordance with the Technical Description and Scope of Delivery attached to this offer.The down stream components have been touched on here, however these components can be found locally or by Algae Link. g. electricity, water) will be your responsibility. This components are taken into consideration for our customized design.After signature of the contract it will be necessary to visit the chosen plant site immediately to collect all requested information and data of the location to prepare the detailed site planning. «End Quote»


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