Shell sells its stake in Cellana Algae Biofuels to HR Biopetroleum

Originally, the Cellana Algae Biofuels was a joint effort between Shell and HR Biopetroleum. However, Shell is backing out and selling Cellena in its entirety to HR Biopetroleum.

Cellena was formed in 2007 to demonstrate algae cultivation technology and technology to convert vegetable oils to biodiesel. The deal will see HR Biopetroleum become owner of Cellana, its projects and facilities including the six acre demonstration plant in Hawaii which is one of the most advanced algae-to-fuel demonstration plants in the US. This plant is used to cultivate species of natural algae native to Hawaii in open ponds. Shell has pledged cash to HRBP for the near future to help them continue to develop their technology.

HRBP CEO, Ed Shonsey:

‘‘The acquisition of Cellana represents a significant opportunity for HRBP and its corporate and project stakeholders, including the University of Hawaii, Hawaiian Electric Company, Maui Electric Company, the National Alliance for Advanced Biofuels and Bioproducts consortium, the U.S. Department of Energy and others. We will continue to operate Cellana’s Kona demonstration facility and to continuously improve the economics for growing marine algae using HRBP’s patented process. Based on HRBP’s and Cellana’s results to date, we believe this technology holds great potential for the economical production of algae and algae-derived products for applications within the aquaculture and animal feed markets, as well as for the production of algal oil for conversion into biofuels.”