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Exxon plans alternative fuel from algae
Source: The Tribune, New Delhi, Date: , 2009
Oil giant Exxon Mobil plans to announce today a $600-million investment
to produce liquid transportation fuel from algae, The New York Times
reported. The effort by Exxon, whose chairman and CEO Rex Tillerson once
derided ethanol as "moonshine," includes a partnership with the
biotechnology company Synthetic Genomics. "Scale was the first. For
transportation fuels, if you can't see whether you can scale a
technology up, then you have to question whether you need to be involved
at all." But Jacobs acknowledged that it would take at least five to 10
years before large-scale commercial plants could produce algae-based
fuels. "Research is great, but we need to see new products in the
market," Greenpeace research director Kert Davies told ."We've always
said that major oil companies have to be involved. But the question is
whether companies are simply paying lip service to something or whether
they are putting their weight and power behind it."
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