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This week, ExxonMobil announced that it will invest more than $600 million into research and development of next-generation biofuels produced from sunlight, water and waste carbon dioxide by photosynthetic pond scum. In a collaboration with Synthetic Genomics expected to last 5-6 years at a new test facility being constructed in San Diego, the hope is to develop the technology to a point where ExxonMobil can invest billions more into bringing it to commercial markets.

Pond Scum: the next source of renewable energy?

Craig Venter, founder and CEO of Synthetic Genomics, said, “There are different approaches to what is truly economically scalable, so we’re testing things and giving a new reality to the timelines and expectations of what it takes to have a global impact on fuel supply.” It’s a big strategy shift for ExxonMobil to move into developing renewable biofuel technology after years of publicly opposing investment in renewable energy. If all goes well, ExxonMobil and Synthetic Geonomics hope to be producing biofuels similar in structure to today’s conventional hydrocarbons, but from completely renewable sources, by the end of the project. You can read more about it at Synthetic Genomics’ website: www.syntheticgenomics.com.

This entry was posted on July 17, 2009 at 8:00 am and is filed under Business and Politics, Environment, In The News, Silicon Valley Green, Technology and Gadgets, Transportation. Tagged: algae, biofuel, carbon emissions, Craig Venter, ExxonMobil, oil industry, renewable energy, Synthetic Genomics, transportation. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.