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Valero Energy plans to share and develop transportation fuel technology with Algenol Biofuels.
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.
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.