Petersburg went awry when the Ministry of State Property there declared the venture funds' controlling position annulled and dismissed the idea of compensation.

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Petersburg went awry when the Ministry of State Property there declared the venture fund's controlling position null and dismissed the idea of compensation.

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The second would involve a single registry, probably in Guernsey as the necessary laws are already in place, with both islands again controlling the joint venture company.

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The company launched in 2002 as Intellidot, but the influx of venture capital had diluted Mr. Rubin's controlling interest to an 8% share.

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But GreenShift's chairman and controlling shareholder, Kevin Kreisler, has dreams, and the algae venture is just one of them.

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