ExxonMobil Invests $600M with Algae Company

Monday August 17th, 2009 at 7:88 AM
Posted by: tonyb


So, assuming we still have cars in the future, just what are we going to put in the tank? And that’s even assuming that there’s a tank to put “fuel” into. By this time 50 years hence, everything could be electric. ExxonMobil, a company that knows a thing or two about energy production is investing very heavily in, of all things, algae as a possible future fuel. And yes, that’s algae as in the same stuff that grows on the inside of a fish tank.

The quick rundown of the numbers looks like this: ExxonMobil is investing 600 million dollars (which is a pretty big sum) with a company that is heavily into turning algae into a fuel source for our cars. That company, Synthetic Genomics, is run by J. Craig Venter and their biggest triumph to date has been mapping the human genome. In other words, neither of these outfits are new venture start up/pie in the sky sorts of deals.

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