Biofuel -Lead the Pack in Next-round Funding
There has been a resurgence of investment interest in the U.S. biofuel industry focused on technologies that use algae to make fuel. The appeal of algae is that it can potentially produce fuel without diverting food crops or large swathes of land. Ethanol derived from corn has been blamed by some for driving up food prices, while large-scale production of cellulosic ethanol would require cultivation of plants such as switchgrass that are grown only in small amounts now. When exposed to light and carbon-dioxide, pools of algae produce lipids that can be refined into oil. The algae consumes the carbon-dioxide during the process, scoring a double hit for protecting the environment. Drawn by that potential, Exxon Mobil Corp. in July announced it was investing $600 million in a partnership with Synthetic Genomics Inc. of La Jolla, Calif., to develop commercially viable biofuels from algae. That followed an announcement by Dow Chemical Co. in June that it was teaming up with Algenol Bi...