July 30th, 2009
© Lee Nachtigal
Exxon has decided to sink $600 million into algae as a source of biofuel and it is partnering with Synthetic Genomics on the issue, acording to Matter Network.
The oil company's initial investment (that can be expanded) will be split between in-house studies and research by Synthetic Genomics. Exxon is covering its environmental bases in a time of evolving regulations, but large scale commercial algae plants still lie far in the future, from five to ten years according to the vice-president of research and development, Dr. Emil Jacobs.
Synthetic Genomics is involved in research to improve the efficieny of aglae in producing lipids and find a more efficient way to harvest the biofuel from them.