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Exxon-partnered biotech firm eyes cost-competitive biofuel by 2025

Published 03/13/2018, 11:59 AM
© Reuters.  Exxon-partnered biotech firm eyes cost-competitive biofuel by 2025
XOM
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  • Production of advanced biofuels made from algae could grow rapidly in the late 2020s, says Synthetic Genomics, the biotech company that has formed a partnership with Exxon Mobil (NYSE:XOM) to develop the fuel.
  • The two companies say they are aiming to set up one or more demonstration plants by 2025 to produce 10K bbl/day of diesel and jet fuel from genetically modified algae, and that scaling up production could be relatively quick.
  • The companies say they see a "pathway" to make algae-based fuel a commercial reality, although many technical challenges must be overcome before large-scale production is possible.
  • Now read: Dividend Sensei's Portfolio Update 26: Let The Next Market Crash Make You Rich


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