Energy
Emerging Markets Online estimates that $1 billion has gone into algae research for fuel since 2007. Algae require little land to grow, can capture carbon dioxide and can even be grown in wastewater. However, algae’s low yields, contamination and harvesting present challenges. This summer, ExxonMobil, in partnership with Synthetic Genomics, announced a six-year $600 million investment in algae research. Chevron has partnered with the National Renewable Energy Laboratory as well as with Solazyme on algae projects. BP has made a $10 million investment in Martek Biosciences, and Dow Chemical is collaborating with Algenol Biofuels. Sapphire Energy has raised more than $100 million. The ability to effectively produce algae-based fuels on a large scale will be tested by the US Navy’s contract with Solazyme, which requires delivery of 75,000 liters of F-76 renewable fuel within a year. Scaling up production has proved particularly difficult, with firms choosing between ponds and bioreactors. The field also received a blow earlier this year when GreenFuel Technologies went out of business.
Source: Nature