Algae Aqua-Culture Technology, Inc. announces signing of 10-year lease extension and operating and supply agreements

Algae Aqua-Culture Technology, Inc. Announces  Signing of 10-Year Lease Extension and Operating and Supply  AgreementsAlgae Aqua-Culture Technology, Inc. (AACT) announced today the signing of a 10-year lease extension and operating and supply agreements with F. H. Stoltze Land & Lumber Company of Columbia Falls. The agreements provide a longterm working relationship with Stoltze at AACT’s Columbia Falls “Green Power House” (GPH). AACT operates the GPH at the Stoltze lumber mill property and has plans to build additional GPH’s at the site. The agreements provide for raw materials, construction materials, equipment, and other services to operate the GPH.

“Stoltze has been a supporter of this project from its beginning and we are extremely fortunate to have them as a partner,” said Michael Smith, Founder and CEO of AACT.

“Stoltze’s commitment to the environment is evidenced by their continued support of the GPH and its ability to reclaim certain elements from waste,” Smith added.

AACT takes waste woody biomass and together with algae generates heat, fuel, and an array of organic fertilizing soil amendment products using a self-sufficient and carbonnegative closed loop process that mimics nature and generates no waste. Chuck Roady, Vice President and General Manager at Stoltze, said, “We are very pleased to be able to support the efforts of AACT. We believe in the environmental benefits underlying the technology, particularly the ability to help restore the planet’s natural carbon cycle.”

The Montana Department of Environmental Quality (DEQ) Energy Office awarded AACT $500,000 in grant funds through a competitive solicitation to build the company’s first green power house biorefinery at the Stoltze site. The federal grant was funded through the American Recovery and Reinvestment Act (ARRA). The project was reviewed for compliance with National Environmental Policy Act and staff from the Department of Energy visited the site prior to issuing a compliance notice. Construction began in November, 2010. AACT successfully completed its commitments under the grant in May 2012.

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