Will you be pumping up your car of the future with algae-bred fuel? Possibly, if ExxonMobil's latest venture is successful.
ExxonMobil and biotech firm Synthetic Genomics (SGI) announced on Tuesday a new alliance to produce alternative fuel made from photosynthetic algae. ExxonMobil expects to spend more than $600 million on the project--$300 million internally and another $300 million to SGI if key R&D milestones are met.
Under the partnership, SGI will research and develop systems to grow large amounts of algae and convert them into biofuels. ExxonMobil will provide engineering and scientific talent throughout different phases … Read more