Exxon getting into Algae

Exxon Mobil Corp. has partnered with a biotech firm to develop biofuels from algae and invested $600 million in the endeavor.

In a statement issued Tuesday, Exxon said the project with Synthetic Genomics Inc. of famed human genome scientist Craig Venter may lead to a technology that will mass produce algae fuel through the oil company’s existing facilities and allow it to be distributed through existing pumping stations.
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