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Exxon partners with Synthetic Genomics to Invest Millions in producing biofuel from algae

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"On Tuesday, Exxon plans to announce an investment of $600 million in producing liquid transportation fuels from algae — organisms in water that range from pond scum to seaweed. The biofuel effort involves a partnership with Synthetic Genomics, a biotechnology company founded by the genomics pioneer J. Craig Venter."

"The agreement could plug a major gap in the strategy of Exxon, the world’s largest and richest publicly traded oil company, which has been criticized by environmental groups for dismissing concerns about global warming in the past and its reluctance to develop renewable fuels."

There is a lot of research being done with algae and the manufacturing of biodiesel/ethanol/rocket fuel these days.

 
 

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