Exxon Mobil to make fuel from algae

Exxon Mobil, the largest energy firm in the US, has announced a $600 million investment in algae-based biofuel.  The Irving, Texas-based company has joined forces with biotech firm Synthetic Genomics Inc. to research the potential of making biofuel from photosynthetic algae. The partnership is expected to last around six years, during which algae-growing methods and oil extraction techniques will be studied at a new test facility in San Diego, California. The move represents a significant break from Exxon MobilÔÇÖs previous reluctance to invest in renewable energy, for which it has been heavily criticized in the past. Algae needs only sunlight, carbon dioxide and water to grow; it can also be cultivated using non-agricultural land. It produces oil with molecular structures similar to the gasoline and diesel Exxon already makes, which means that converting it into fuel at its own refineries should be relatively straightforward. Companies such as Royal Dutch Shell and Chevron have already been able to produce small quantities of biofuel from algae; however, large-scale, low-cost production of the same has not yet been achieved. The firm has warned that commercial distribution of the biofuel could be ten years from now. ÔÇ£Meeting the worldÔÇÖs growing energy demands will require a multitude of technologies and energy sources,ÔÇØ said Dr. Emil Jacobs, vice president of research and development at ExxonMobil Research and Engineering Company.  ÔÇ£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.ÔÇØ *┬á┬á┬á┬á┬á┬á *┬á┬á┬á┬á┬á┬á *