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Exxon biofuels partnership makes oil from algae "breakthrough"

Published 06/19/2017, 12:31 PM
Updated 06/19/2017, 12:31 PM
© Reuters.  Exxon biofuels partnership makes oil from algae "breakthrough"
  • Exxon Mobil (XOM -0.4%) says its joint research with Synthetic Genomics to produce biofuels from algae has produced a "breakthrough."
  • Using advanced cell engineering technologies at Synthetic Genomics, the joint research team modified an algae strain to enhance the algae’s oil content to 40%-plus from 20%, more than doubling oil production.
  • XOM declines to disclose how much it has invested in the endeavor so far, but a VP for its research unit says the collaboration is part of its broad pursuit of "more efficient ways to produce the energy and chemicals" the world needs and "mitigate the impacts of climate change."
  • The discovery is being published in the July issue of the journal Nature Biotechnology.
  • Now read: Exxon Mobil, Chevron (NYSE:CVX): Stay Close To The Big Boys


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