15
Jul
2009
CHEAT SHEET: Heavy Hitters in Algae Fuel Deals
Josie Garthwaite, The New York Times
The race to bring pond scum to fuel tanks has acquired high stakes in recent years, with venture capitalists, federal agencies and legacy oil companies pouring millions of dollars into the technology. Today ExxonMobil and startup Synthetic Genomics announced one of the biggest deals yet: more than $600 million for a 5-6-year algae biofuels development program, including more than $300 million to be invested into the startup.
