BioFuels Journal

Valcent Products Inc. Purchases Remaining 50% Interest in Vertigro Algae Technologies LLC for $5 Million; To Develop Proprietary Technologies for Algae Biomass Fuel Production

El Paso, TX—Valcent Products Inc. has reached agreement with Global Green Solutions Inc. ("Global Green") to purchase the remaining 50% interest in Vertigro Algae Technologies LLC ("VAT") for US$5 million and 5 million common shares of Valcent.

The transaction is to be completed within 60 days subject to finance.

Prior to closing, Valcent intends to sell two additional country licenses for its High Density Vertical Growing systems, which will be the source of funds for the VAT purchase.

In addition, the Company is working closely with a senior investment banking group.

On closing, Valcent will own a 100% interest in VAT which is developing proprietary technologies to produce algae biomass fuels and other algae products.

In addition, Valcent will sell VAT's algae technologies to Global Green on commercial terms.

VAT owns the exclusive worldwide rights (excluding Nevada) to the sales, marketing, and commercialization of the proprietary algae production technologies.

VAT is building a 100 panel algae bio-reactor and intends to be in production testing during the first quarter of 2009.

Glen Kertz, Valcent's CEO notes, "This strategic purchase clears the way for senior sponsorship of Vertigro Algae Technologies LLC as it prepares to complete the 100 panel reactor which will then allow design of a commercial scale production unit."

He further commented, "Global Green was a significant partner during the start up phase of Vertigro over the last 2 years and Valcent fully intends to continue to work with them by providing algae technologies for deployment in their biomass power generation business on normal commercial business terms."

For more information, call 866-408-0153.