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Valero Energy plans to share and develop transportation fuel technology with Algenol Biofuels.
Rather than squeeze algae for its oil, like other companies are proposing, Algenol wants to turn each algae cell into a tiny ethanol factory.
BioFields commits $850 million to building an algae farm in the Sonoran Desert that will license technology from Algenol to start producing ethanol next year.
Federal government pumps more than $600 million in projects to demonstrate advanced biofuels, including cellulosic ethanol and plant-based replacements for diesel, jet fuel, and gasoline.