SAN FRANCISCO, CA — (Marketwire) — 12/10/12 — announced today that it has updated coverage on (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 , 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 (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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