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July 6, 2014 5:47 am

U.S. Company Signs $1.17 Billion Deal to Invest in Iran Bio-Energy

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The Iranian flag. Iranian leaders are blaming the raids by the Jihadist group ISIS in Iraq on Israel and the U.S. Photo: Wikimedia Commons.

AFP – A U.S. company has signed a preliminary agreement to invest $1.175 billion (864 million euros) in Iran, in a rare joint commercial project to turn rubbish and human waste into electricity.

California-based World Eco Energy told AFP it plans to produce 250 megawatts daily by burning trash and by processing algae and salt and waste water into power.

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