ExxonMobil’s (NYSE: XON) efforts to develop biofuel are underway, according to a report in The National.
Six months ago the oil giant announced plans to invest $600 million in biofuel research to be led by Synthetic Genomics–the lab co-founded by well-known genomics scientist Craig Venter.
The research reportedly is up to speed after several months working out the details of the partnership.
Dr Emil Jacobs, the vice president for research and development at ExxonMobil, told The National commercial-scale “biomanufacturing” of biofuel from algae could begin in eight to 10 years.
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