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Exxon & Other Oil Giants invest in Algae Biofuel Research.

Posted on : 21 Jul, 2009

 

Mid last week, Exxon announced an investment of $600 million in producing liquid transportation fuels from algae. Exxon partners with Synthetic Genomics, a biotechnology company founded by the genomics pioneer J. Craig Venter for its biofuel effort.

 

The investment represents a major shift in direction for Exxon which has traditionally shunned biofuels investment. The announcement came just a week after another industrial giant, Dow Chemical, declared its own investment in algae technology. Other oil majors Shell, Chevron and BP have ventured into algae biofuel much earlier.

 

The involvement of these top international corporations in algae biofuel sends a strong message that Algae is a viable energy option for the future!

 

At the upcoming 2nd Algae World Asia in Bangkok, a roundtable discussion will offer an objective overview of where the industry stands today, and what needs to be achieved for commercialisation.

 

Entitled, “ALGAL BIOFUELS - ROAD TO FULL-SCALE COMMERCIAL OPERATION” the roundtable discussion will touch on:

•  How to achieve target production costs?
• Transitioning from pilot test to commercial production - How to avoid the “Valley of Death”
• What business models will give appropriate returns?
• Project development risks and challenges
• Vertical Integration or Geographical Expansion?
• Technology Licensing or International Partnerships?
• Forming strategic partnership in the value chain

Algae Biofuels will continue in their mercurial rise as the most ‘high profile’ algae application in the algae business today. 2nd Algae World Asia looks beyond the hype to examine the real picture, and pinpoint key opportunities and challenges.  

 

Those keen on participating in 2nd Algae World Asia can >>CLICK HERE<< to confirm their seats at Asia’s most influential Algae industry conference.