ExxonMobil Plans to Grow Algae for Biofuel
July 21, 2009
Algae grown from pond scum produce an oil that can be extracted and processed into biodiesel. Oil producer Exxon Mobil has announced plans to fund research for growing algae to produce biofuel. The $600 million investment is projected to take from five to 10 years to produce commercial quantities of fuel. According to Exxon Mobil, algae could yield 2,000 gallons of fuel per acre of production each year, compared with 650 gallons for palm trees and 450 gallons for sugar cane. Corn yields just 250 gallons per acre a year. Other oil companies including Chevron and Shell are exploring the growth of algae for biofuels. For more information, check on the ExxonMobil link.