UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of
The
Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): April 14, 2010
PetroAlgae
Inc.
(Exact
name of registrant as specified in its charter)
Delaware
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33-0301060
|
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(State
or other jurisdiction
of
incorporation)
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(IRS Employer
Identification No.)
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1901
S. Harbor City Blvd., Suite 300
Melbourne,
FL
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32901
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(Address
of principal executive offices)
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(Zip Code)
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321-409-7500
(Our
telephone number)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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ITEM
8.01 OTHER
EVENTS
PetroAlgae
Announces Strategic Partnership with Asesorias E Inversiones
Quilicura
On April
14, 2010, PetroAlgae Inc. (OTCBB: PALG) (“PetroAlgae”)
announced that it signed a memorandum of understanding (the “Memorandum of
Understanding”) with Asesorias E Inversiones Quilicura (“AIQ”), a major
shareholder in Subus Chile S.A., to enter into an agreement that is
expected to enable the development in Chile of a micro-crop technology system
for the large-scale production of green gasoline, diesel and jet
fuel.
Under the
terms of the Memorandum of Understanding, AIQ will acquire an option from
PetroAlgae to purchase a standard license to build a full micro-crop technology
system for commercially producing biofuels and high-value protein.
PetroAlgae’s
micro-crop technology is designed to enable its licensees to produce a
cost-effective alternative to fossil fuels as well as a high-value protein
co-product, while absorbing carbon dioxide from greenhouse gas
emissions.
The
information in this Form 8-K under Item 8.01 shall not be deemed “filed”
for purposes of Section 18 of the Securities Exchange Act of 1934 (the
“Exchange Act”)
or otherwise subject to the liabilities of that section, nor shall it be deemed
incorporated by reference in any filing under the Securities Act of 1933 or the
Exchange Act, except as expressly set forth by specific referencing in such
filing.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
PETROALGAE
INC.
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Date:
April 19, 2010
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By:
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/s/
David Szostak
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Name:
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David
Szostak
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Title:
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President
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