PSD Psource

TIDMPSD

RNS Number : 3432T

PSource Structured Debt Limited

05 December 2011

5 December 2011

PSource Structured Debt Limited ("the Company")

PetroAlgae Inc announces amended and restated license agreement with AIQ

PSource Structured Debt Limited (LSE: PSD, the "Company"), the London listed fund investing in senior secured debt and equity warrants predominantly issued by US based small-cap companies, confirms that its largest holding, PetroAlgae, announced on 2 December 2011 an amended and restated license agreement with AIQ of Chile.

The text of PetroAlgae's announcement is set out below:

On October 25, 2011, PA LLC (the "Company") entered into an amended and restated license agreement (the "Agreement") with Asesorias e Inversiones Quilicura S.A. ("AIQ"). The Agreement provides for the construction of a pilot-scale bioreactor in the Republic of Chile and a framework for the subsequent build-out of a commercial-scale facility in South America, subject to the parties' agreement that the pilot-scale bioreactor has been operated successfully.

The Agreement provides for three separate phases: the Preliminary Phase, Phase I and Phase II. In the Preliminary Phase, AIQ will construct and operate a pilot-scale bioreactor of 0.75 hectares to test and demonstrate the growth and harvesting aspects of the Company's technology. The Company will grant AIQ a license to construct and operate the pilot-scale bioreactor in the Preliminary Phase in consideration for a limited license fee from AIQ.

If the parties agree that the Preliminary Phase has been operated successfully, the Company and AIQ will proceed to Phase I, during which the first commercial-scale unit increment of 150 hectares, including growth, harvesting and processing modules, will be constructed. The Company has agreed to construct the 150 hectare commercial growth unit on a turnkey basis, in return for payments from AIQ, billed on a progress basis, not to exceed a prescribed limit. After completion of Phase I, the parties will proceed to Phase II. In Phase II, AIQ will continue to expand the project in 150 hectare unit increments, including growth, harvesting and processing modules, until the facility forms a unit of up to 5,000 hectares. Under the Agreement, the Company will grant AIQ a license to use its technology to plan, construct and operate the Phase I and Phase II units and to sell the end products produced by these units in South America. The Company will receive a royalty on net sales of the products generated from every unit and unit increment during the 20-year term of the license

 
 
  For further information, please 
  contact: 
 
 PSource Capital Limited             +44 20 7925 3156 
 Soondra Appavoo 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

PFUFELFBFLFBFBD

Psource (LSE:PSD)
Historical Stock Chart
From Mar 2025 to Apr 2025

Psource (LSE:PSD)
Historical Stock Chart
From Apr 2024 to Apr 2025