Synthetic Genomics and Exxon Mobil Team to Produce Algae Derived Biofuels
Synthetic Genomics Inc and ExxonMobil Research and Engineering team up to explore and commercialize the use of photosynthetic algae for biofuel production. SGI is working to scale up a continuous process for algae-produced biofuel. ...
... "As part of the multi-faceted agreement, SGI will receive milestone payments for achievements in developing biofuel products. Total funding for SGI in research and development activities and milestone payments could amount to more than $300 million with the potential for additional income from licensing to third parties. Photosynthetic algae, which include microalgae (single celled algae) and cyanobacteria (most commonly known as blue-green algae) are organisms that are very efficient at utilizing the energy from sunlight to convert carbon dioxide into cellular oils (lipids) and even some types of long-chain hydrocarbons that can be further processed into fuels and chemicals. " ...Via Synthetic Genomics: Multi-Year Agreement to Develop Next Generation Biofuels Using Photosynthetic Algae
Exxon Mobil is developing a portfolio of sustainability projects. ...
Exxon Mobil's Sherri K. Stuewer on Rising to the sustainability challenge: "We also believe that it is critically important — and ultimately most effective — to invest in research for fundamentally new technologies that will be efficient in reducing emissions for the future. We have an active portfolio of research now on a wide range of future technologies ... "