SAN FRANCISCO, CA--(Marketwire - May 1, 2012) - [ Vista Partners ] announced today that it has initiated coverage on [ Algae.Tec Limited ] (ASX: AEB) (OTCQX: [ ALGXY ]) ("The Company" or "AEB") with a twelve month target price of AUD $1.08. Ross Silver, Principal Analyst at Vista Partners, stated, "The Company has numerous memorandums of understanding (MOU), one of which is with European airline giant [ Lufthansa ]. The Company and Lufthansa plan to jointly evaluate the potential for algae oil from AEB's bio-reactors to be developed into a sustainable source of aviation biofuels." Mr. Silver continues, "In addition, AEB signed a collaboration contract to build its first algae biofuels production facility in Asia. The facility is being built in Sri Lanka with the local subsidiary of industrial giant [ Holcim ], the world's second largest cement and building materials company." Mr. Silver concludes, "[ Venture Beat ] recently stated that Solazyme, Algae.Tec, and Sapphire Energy all dominate the global algae to biofuels space, trying to edge out not only each other but oil companies as well."

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