SOURCE: Algae.Tec Limited

Algae.Tec Limited

December 10, 2012 19:00 ET

Vista Partners Updates Coverage on Algae.Tec Limited; Target Price USD $10.80

SAN FRANCISCO, CA--(Marketwire - Dec 10, 2012) - Vista Partners announced today that it has updated coverage on Algae.Tec Limited (OTCQX: ALGXY) (ASX: AEB) ("The Company" or "AEB") with a twelve month target price of USD $10.80. Ross Silver, Principal Analyst at Vista Partners, stated, "Algae.Tec and Lufthansa have signed a Collaboration Agreement for the construction of a large-scale algae to aviation biofuels production facility. In addition, the Company has numerous memorandums of understanding (MOU) with other companies such as Holcim, one of the world's largest cement and building materials producers." Mr. Silver continues, "Algae.Tec's method seems to enjoy certain advantages to current alternative algae-to-biofuel competitors, such as Solazyme (ticker: SZYM), which use a heterotrophic system to grow its algae, meaning the algae grows in the dark, fed by plants that have already undergone photosynthesis, and therefore are costly, time consuming and relatively fragile."

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