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Exxon Employs Algae For Biofuel

Exxon Employs Algae For Biofuel

By Richard Read's avatar Richard ReadRichard Read July 16th, 2009

Exxon logo

Exxon logo

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Yes, you read that headline correctly: Exxon (a name forever linked in some people's minds with "Valdez") has jumped on the eco-conscious, biofuel bandwagon, and it's doing so in a forward-thinking way. The company has invested $600 million in a joint partnership with biotech firm Synthetic Genomics to create biofuel from algae, which is viewed as a far more efficient source of energy than other renewable sources, like corn. The initiative is in its early stages, but the promise of "oilgae", as it's called, are enticing. Added bonus: you can still call oil execs "slimy", only now it's a compliment.   [NYTimes]

Exxon logoEnlarge Photo Yes, you read that headline correctly: Exxon (a name forever linked in some people's minds with "Valdez") has jumped on the eco-conscious, biofuel bandwagon, and it's doing so in a forward-thinking way. The company has invested $600 million in a joint partnership with biotech firm Synthetic Genomics to create biofuel from algae, which is viewed as a far more efficient source of energy than other renewable sources, like corn. The initiative is in its early stages, but the promise of "oilgae", as it's called, are enticing. Added bonus: you can still call oil execs "slimy", only now it's a compliment.   [NYTimes]

Tags: Biofuels, ethanol, alternative fuels



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