Norway’s StatoilHydro funds algae project in US

Norwegian energy company StatoilHydro has invested $3 million  in the Chesapeake Algae Project (ChAP) in Virginia.

The College of William and Mary and its Virginia Institute of Marine Science have formed the collaborative research initiative to investigate a promising new technology to produce biofuel from the algae growing naturally in rivers and the Chesapeake Bay.

The enterprise is an integrated research approach to algae-based energy production and environmental remediation. Other key partners are the Williamsburg energy advisory firm Blackrock Energy, the University of Maryland, the Smithsonian Institution, the University of Arkansas and HydroMentia, a Florida company that works with water-treatment technologies.

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