Growing Interest
Algae biofuels production is increasingly attracting the attention of large corporations. ExxonMobil is perhaps the best example of one of these companies, as it has allocated up to $600 million for algae biofuels research and development over an initial five-year period.
Governments are also increasingly involved, as they too recognize the economic, environmental and national security benefits of home-grown energy. US Federal Government support in the form of R&D, grants, and loan guarantees, now approach a billion dollars. State and local governments have added several hundred million dollars to help establish algae production projects.
There has also been greater interest in streamlining the regulatory environment so that algae companies to develop more quickly within existing frameworks for regulation and safety. State regulators are starting to acknowledge that this new industry does not necessarily require new rules. At the federal level, there is mounting support for policies that promote clean energy overall, without favoring one technology over another.
The trends are moving in the right direction for algae.
Want to help it move faster? Join the ABO! Enter your email in the text box at the bottom of this page to receive issue alerts, newsletters and other important information on how you can help.
Industry snapshot with Mary Rosenthal, ED, Algal Biomass Organization
Photos
CLICK HERE for more photos about the algae industry
Take our fun – and short – quiz to see how much you know about algae. Compare with your friends!
For more information about what you’ve read on this page, click on the button below.
