http://www.ft.com/cms/s/0/542f8336-709a-11de-9717-00144feabdc0.html

Exxon joins algae-based biofuel push

By Ed Crooks in London

Published: July 14 2009 19:21 | Last updated: July 14 2009 19:21

ExxonMobil and Craig Venter, the pioneer of human genome research, have set up a $600m partnership to research the potential for making biofuels from algae.

Mr Venter told the Financial Times that the joint venture was “critical for the whole world” but warned that commercial deployment could be 10 years away.

 “There has been so much hype and hope about the potential for algae that this announcement should act as a reality check for everyone,” said Mr Venter. “We are not saying we are going to have millions of tonnes of algae next year.”

More at:

http://www.ft.com/cms/s/0/542f8336-709a-11de-9717-00144feabdc0.html