|
|
ExxonMobil to Launch Algae Fuel Program
"Meeting the world’s growing energy demands will require a multitude of technologies and energy sources. We believe that biofuel produced by algae could be a meaningful part of the solution in the future if our efforts result in an economically viable, low net carbon emission transportation fuel," said Dr. Emil Jacobs, vice president of research and development at ExxonMobil Research and Engineering Company. ExxonMobil Research and Engineering Company has entered into a research and development alliance with SGI, a privately held company focused on developing genomic-driven solutions and founded by genome pioneer, Dr. J. Craig Venter, to develop advanced biofuels from photosynthetic algae that are compatible with today’s gasoline and diesel fuels. Under the program, if research and development milestones are successfully met, ExxonMobil expects to spend more than $600 million, which includes $300 million in internal costs and potentially more than $300 million to SGI. "The real challenge to creating a viable next generation biofuel is the ability to produce it in large volumes which will require significant advances in both science and engineering," said Venter, CEO of SGI. "The alliance between SGI and ExxonMobil will bring together the complementary capabilities and expertise of both companies to develop innovative solutions that could lead to the large scale production of biofuel from algae." ExxonMobil’s engineering and scientific expertise will be utilized throughout the program, from the development of systems to increase the scale of algae production through the manufacturing of finished fuels. dded Jacobs: "After considerable study, we have determined that the potential advantages and benefits of biofuel from algae could be significant. Among other advantages, readily available sunlight and carbon dioxide used to grow the photosynthetic algae could provide greenhouse gas mitigation benefits. Growing algae does not rely on fresh water and arable land otherwise used for food production. And lastly, algae have the potential to produce large volumes of oils that can be processed in existing refineries to manufacture fuels that are compatible with existing transportation technology and infrastructure." SGI, a privately held company founded in 2005, is dedicated to developing and commercializing genomic-driven solutions to address global energy and environment challenges. Links: |
 |
 |
Exxon Mobil Corporation has announced an alliance with leading biotech company, Synthetic Genomics Inc. (SGI), to research and develop next generation biofuels from photosynthetic algae.