Exxon Mobil Corp assessing the Commercial Viability of Algae Biofuels as an Alternative Energy Source

June 18, 2010

Exxon Mobil Corp is testing the commercial viability of algae biofuel as an alternative energy source to supplement oil and natural gas, a senior executive said.

“We are testing the hypothesis that algae biofuels could become commercially viable and achieve sufficient scale to make meaningful contribution to the future energy mix,” saidExxonMobil’s senior vice president Andrew Swiger.

Global energy demand is expected to rise by almost 35 percent by 2030, from 2005 levels, he said. “It is early days in this research, and the obstacles we face are formidable, but the potential is great,” Swiger added.

He said Exxon currently has an interest in 4,900 megawatts of cogeneration capacity at more than 30 sites worldwide. New facilities under construction in Singapore will boost that capacity to more than 5,000 megawatts by next year 2011. Source: Reuters (Jun 7, 2010)

Those keen to explore commercialisation strategies and to gather progress report on algae biofuel, should attend the 3rd Algae World Asia in Singapore, 19-20 October 2010.

Besides algae biofuels, the 3rd Algae World Asia will also discuss the latest on algae production systems, algae high value co-products, and algae application in carbon capture and wastewater treatment industries.

Email leelin@cmtsp.com.sg to receive more information on the 3rd Algae World Asia.

Posted by admin | Filed Under Algae News 

Comments

One Response to “Exxon Mobil Corp assessing the Commercial Viability of Algae Biofuels as an Alternative Energy Source”

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