ExxonMobil to invest $600 million in algae-based fuels

07/14/2009 | NYTimes.com

ExxonMobil was expected to announce today a partnership with genomics innovator J. Craig Venter's company, Synthetic Genomics, in a $600 million effort to produce fuel from algae. Emil Jacobs, an ExxonMobil research-and-development executive, said the company has spent years researching alternative fuels and that plants producing algae-based commercial fuel are still five to 10 years away.

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