Biofuel project lauded by Time magazine

A Marlborough biofuel company is making its mark on the international stage, after being named as the 11th best invention in the world for 2008 by Time magazine.

Aquaflow Bionomic Corporation creates biodiesel from wild algae formed at Blenheim's waste treatment oxidation ponds.

In September, the three year old company announced it had also discovered a way to make green crude oil. Aquaflow was mentioned in Time magazine under the invention title Green Crude, along with major American biofuel companies such as Sapphire Energy.

Director and co-founder Nick Gerritsen was in America when he found out, and said it was fantastic news.

"The thing I like most about AquaFlow is how it is a good example of the quality of New Zealand innovation you can create something that potentially can make a difference in the world."

He said the mention was significant because high levels of publicity generated interest from around the world.

"The flow on effects are obviously good for us as we are in the middle of an investment round to raise capital. To be linked with the other large American corporations listed in the magazine is great."

Mr Gerritsen said the internationally-published article added weight to his company. It follows another article on Scoop news website about the results of his annual business meeting. It was the second most-read business story on the site, he said.

Mr Gerritsen said the company was focussing on raising further capital, which would give New Zealanders a chance to invest in Aquaflow.

- The Marlborough Express