Algal technology company Aquaflow Bionomic Corporation announced today that it had signed a Memorandum of Understanding with Impulse Devices, Inc (IDI) of California.

IDI, which was founded in 1999, has become the world leader in high-pressure cavitation performance as well as being at the forefront of developing the technological capacity required for acoustic inertial confinement fusion (Acoustic ICF).

Marlborough-based bio-energy company Aquaflow Bionomic Corporation is dipping its toes further into international markets in a US-government funded demonstration project.

The United States Department of Energy has awarded $US1.5 million to technology and manufacturing company Honeywell (NYSE:HON) subsidiary UOP, for a demonstration biofuel project in Virginia.

A new investment fund is seeking to raise $NZ50 million over the next two years to invest in “the clean energy boom.”

Named after New Zealand nuclear physicist, Ernest Rutherford, the Rutherford Innovation Fund will invest in young New Zealand pre-IPO companies where risk is reduced, investment capital is scarce and the potential returns are highest.