Green and renewable energy using algae is not so new, but according to scientists from Synthetic Genomics, Inc. (SGI) and ExxonMobil (XOM:US) they have found the way how to produce energy-rich fat in the algae in order to use that to produce biodiesel at an industrian scale.
According to companies success in developing algae-based biodiesel at commercial levels will provide a number of tangible benefits. “The fuel emits fewer greenhouse gases than most conventional energy sources, and that will help strengthen our ongoing transition to low-emission energy resources. Also, unlike other biofuel feedstocks, such as corn, algae production at an industrial scale would not stress food production”, the companies say.
Exxon says that to boost fat production, SGI scientists worked with their counterparts at ExxonMobil as nutritionists of sorts, tweaking the part of the algae genome responsible for the assimilation of nitrogen, an essential nutrient. The change is an algae with about 40 percent of its biomass as fat. “That’s more than double the fat content of conventional algae”, the company states.
Exxon published this finding in their second quarter earnings call in July this year. The companys is expected to publish the third quarter earnings on the 27th October. The company market value is 349 billion dollars and stock performance has been -1, 19 percent during this year.