PetroSun, Inc. Other OTC:PSUD.PK) has filed Articles of Incorporation for AL-G-BAMA, Inc. with the State of Alabama.
The Company was formed as the result of recent meetings with officials from the State of Alabama, Auburn University and private interests regarding the cultivation of algae for the purpose of biofuel and animal feed production within the state. PetroSun holds an 80% equity position in AL-G-BAMA with the balance held by private parties from Alabama. The initial pilot plant will be located in Opelika, Alabama. The purpose of this facility is to test both open and closed algae growth systems for commercial viability. The Company will also test extraction and refining technology from several manufacturers during the field trials.
Algae BioFuels, a PetroSun wholly owned subsidiary, will license technology to AL-G-BAMA and joint operate the facility with the other equity partners.
About PetroSun
PetroSun’s current oil and gas operations are concentrated in the Ark-La-Tex region with plans to expand into New Mexico, Arizona and Australia in 2007. Algae BioFuels, a wholly owned subsidiary of PetroSun, is an emerging producer of biodiesel derived from the cultivation of algae.
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