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Exxon invests Millions into Algae Fuel Research

September 18th, 2009 | No Comments | Posted in Research

Exxon Mobil announced an investment of 600 million Dollar in a Research project aimed to produce liquid fuels from algae. The project will be a partnership between ExxonMobil Research and Engineering Company (EMRE) and Synthetic Genomics (SGI), a genomic biotech company from La Jolla, California.

“This agreement between SGI and EMRE represents a comprehensive, long-term research and development exploration into the most efficient and cost effective organisms and methods to produce next generation algal biofuel,” said J. Craig Venter, Founder and CEO of SGI. “We are confident that the combination of our respective expertise in science, research, engineering and scale-up should unlock the power of algae as biological energy producers in methods and scale not previously explored.”

more at NYT and SGI

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