‎Singapore: Australia's Algae.Tec has signed Memorandum of Understanding (MOU) with WorleyParsons for joint developments of Algae projects in future. A number of Algae.Tec projects, including those in the EU, USA, Australia and Brazil, are already in the final stages of technical feasibility studies.

Algae.Tec executive chairman, Roger Stroud, said, "Algae.Tec is extremely pleased to have the support of WorleyParsons during this global development, construction and management phase. WorleyParsons, a world leader in the delivery of engineering, procurement, and construction management (EPCM) services, brings an extensive network and years of experience in supporting project development and plant operations."

Algae.Tec has developed a high-yield enclosed algae growth and harvesting system, the McConchie-Stroud System. The company was founded in 2007 and has offices in Atlanta, Georgia and Perth, Western Australia.

The Algae.Tec bioreactor, an enclosed modular engineered technology, is designed to grow algae on an industrial scale, and produce biofuels that replace predominantly imported fossil fuels.