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Shareholders right to have misgivings over Magnus Energy's headlong rush into microalgae farming

Innopac's project to harvest algae for biofuel has gone belly up; even cash-rich energy giant ExxonMobil is moving cautiously, with a modest targeted output by 2025

AT a recent annual general meeting (AGM), Magnus Energy shareholders grilled the board for repeatedly sinking cash into deals with partners that have failed to deliver on what they had promised to do, yet did not have the wherewithal to pay back monies they had taken from Magnus.


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