World Health Energy Holdings announces MOU for algae project

World Health Energy Holdings Inc. announced the signing of a Memorandum of Understanding (MOU) for a joint venture algae project with India-based SHK Energy Products Private Ltd. on June 24. According to information released by the company, the project would encompass 5 acres, with plans to expand to 45 acres. “The site already has a substantial infrastructure of pumps and pipes running along a water canal, which offers many of the required resources necessary for algae growing systems,” said the World Health Energy Holdings in a statement.

A few days prior to the MOU announcement, the company also announced GNE-India Inc.’s algae production facility had successfully grown and harvested Spirulina, a type of blue-green algae, using its proprietary GB 3000 algae growth system. World Health Energy Holdings recently acquired GNE-India, and now holds exclusive distribution and licensing rights to the GB 3000 system in India and Croatia. A recent filing with the U.S. Security and Exchange Commission further states that World Health Energy Holdings entered an agreement to acquire GNE-India from GNE-Cyprus in 2010.

Biodiesel Magazine was unable to reach a representative of World Health Energy Holdings Inc. for further comment on these announcements. However, the organization noted in a statement that it is a public holding company that aims to develop joint venture partnerships for algae production—for both biodiesel and commercial fish food purposes. A video posted to the company’s website shows that the algae production technology relies on tubular photobioreactor systems rather than open ponds.

Regarding the successful growth of Spirulina, World Health Energy Holdings said in a press release that it is currently conducting tests on the average rate of production of dry biomass at its facility, and will announce results in the coming months. “This announcement is important in that it validates the significant value of the GB 3000 algae growth technology,” said Jeremy Werblowsky, the company’s chief financial officer, in a press release. “Our success with Spirulina paves the way for WHEN to utilize the GB 3000 algae growth system for other pharmaceutical and nutraceutical crops. We look forward to finalizing the joint venture partnerships currently in negotiations for the building of commercial algae farms for the production of biodiesel and, in the case of Spirulina production, highly nutritional and economical commercial fish food.”

Werblowsky has also commented on his company’s proposed joint venture projects. “It is exciting to see the interest in our GNE GB 3000 system from a number of potential joint venture partners,” he said. “We are currently involved with two Letters of Intent (LOI) and two MOUs for the development of algae commercial farms comprising from 2.5 acres to 250 acres. The LOIs and MOUs are necessary steps to forming mutually beneficial joint ventures. We look forward to working with SHK Energy and benefiting from their business relationships and resources.”