Kwikpower Acquires NREL Biodiesel Technology from UTEK

London, UK; Golden, Colorado; and Tampa, Florida [] Kwikpower International has acquired Advanced Biofuel Technologies, Inc., a wholly owned subsidiary of UTEK Corporation, in a stock transaction. Advanced Biofuel Technologies, Inc. holds the license to oil-producing micro algae developed at the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL). The license is exclusive in the European Union and is non-exclusive in the United States. The licensed technology may provide the enhanced production of bio-diesel feedstocks, whereby over expression of Acetyl-Coenzyme A Carboxylase in algae leads to overproduction of triglycerides. When these triglycerides are subjected to trans-esterification, they provide the hydrocarbon feedstock for the production of biodiesel fuels. This technology was developed by former NREL employee Paul G. Roessler, Ph.D. and his NREL team.