Better BioDiesel to Acquire GeoAlgae

Better BioDiesel, Inc. has announced the execution of a letter of intent (LOI) with GeoAlgae Technologies, Inc. (GAT), a vertically integrated energy technology company with a focus on producing low cost, renewable feedstock for the production of biodiesel using feedstock from geologic resources.

GeoAlgae Technology, Inc.’s business is focused utilization of cost effective energy resources from identified geothermal locations for production of supply feedstock to the bio-diesel industry, establishment of strategic alliances and acquisition of facilities for the production of bio-fuels.

“We are very excited about the opportunity to become a part of Better Biodiesel’s evolving business plan and are looking forward to optimizing shareholder value with a combination of our next generation GeoAlgae feedstock technology and our near term revenue realization model, which is based on established companies in the fuel production and distribution sector,” said Kenneth Bennett, CEO of GAT.
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