US Environmental Protection Agency (EPA) proposes new regulations for the renewable fuel standard program for 2010 and beyond. Congress created the renewable fuel standard (RFS) program to reduce greenhouse gas emissions and expand the nation's renewable fuels sector while reducing reliance on imported oil. This program was authorized under the Energy Policy Act of 2005 and expanded under the Energy Independence and Security Act of 2007.
ExxonMobil partnered up with Synthetic Genomics Inc. (SGI) in 2010 to test and evaluate how to distribute and manage the sales of algae biofuel. Exxon invested $600 million in SGI labs to create a program that targets 10,000 barrels per day by 2025. Thanks to their outdoor field study, there is enough information for real-time mass production.
Oliver Fetzer, Ph.D., CEO at SGI stated the following: "The progress we are making in the lab toward engineering highly efficient algae strains that convert sunlight and CO2 into renewable high energy density biofuel is exciting and warrants continued research about how our technology will scale. Our outdoor algal facility creates a perfect stepping stone from our labs to the greenhouse and to the outdoors to lay the foundation for a large scale commercial deployment of our technology in the future."
SGI former CEO J. Craig Venter said at a press conference that the transition from the lab to implementation is "a small, but important, step." The program is taking their revaluations on the algae biofuels very seriously. The science and technology are already here. There are many other biotechnology companies attempting to create biofuels for the market. The biotechnology companies can all invest in one program and create a faster movement. ExxonMobil and SGI have already partnered with universities, government laboratories, and other companies. The benefits and outcomes will be greater for all in terms of annual revenue and sustainability.
Algae Biofuel production facilities can advance the job market and inspire us all on the endless possibilities of sustainability. We are moving forward on Algae Biofuels by 2025!
