Algae.Tec welcomes carbon plan

Perth-based biofuels company Algae.Tec says the introduction of a carbon price will accelerate uptake of its technology by carbon dioxide emitting industries.

Algae.Tec executive chairman Roger Stroud said the carbon tax package would focus emissions-intensive firms on seeking out carbon dioxide reduction technologies.

"This will significantly add to the commercial appeal of the Algae.Tec technology as a solution for carbon dioxide emitting companies," said Stroud.

Algae.Tec's enclosed modular technology captures carbon dioxide pollution from power stations and manufacturing facilities, which feeds into its algae growth system.

The company uses the algae to produce biofuels through its patented growth and harvesting system, the McConchie-Stroud system.

Algae.Tec's stock was steady today, at 38 cents.