Contributory Info: ExxonMobil Announced a $600 Million Collaboration with Synthetic Genomics
In 2009, an article in the New York Times read, “Oil giant Exxon Mobil Corp. is making a major jump into renewable energy with a $600 million investment in algae-based biofuels.
“Exxon is joining a biotech company, Synthetic Genomics Inc.,” continues the NYT, “to research and develop next-generation biofuels produced from sunlight, water and waste carbon dioxide by photosynthetic pond scum.
“‘The world faces a significant challenge to supply the energy required for economic development and improved standards of living while managing greenhouse gas emissions and the risks of climate change,’ said Emil Jacobs, vice president of research and development at Exxon Mobil Research and Engineering Co. ‘It’s going to take integrated solutions and the development of all commercially viable energy sources, improved energy efficiency and effective steps to curb emissions. It is also going to include the development of new technology.'”