Monday, July 12, 2010

Exxon (NYSE:XOM) Inks Biofuel Deal with Synthetic Genomics

Exxon Mobil (NYSE:XOM), via its ExxonMobil Research and Engineering unit, has signed a deal with Synthetic Genomics for next generation biofuels.

The next generation biofuel represented in the deal will focus on using photosynthetic algae which has been developed by Synthetic Genomics.

According to Synthetic Genomics, they're attempting to "use genetics technology to modify microalgae and cyanobacteria to more efficiently convert carbon dioxide into cellular oils and long-chain hydrocarbons - which can further be processed into biofuels and chemicals."

Synthetic was launched by DNA sequencing inventor J. Craig Venter.

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