The oil giant is quitting an area of research it has long held up as part of a clean 'energy future.'
that ExxonMobil has cut ties with Viridos Inc., a California-based company that has worked with the oil giant since 2009 on its exploration into the possibilities of using algae to create alternative energy. The company has also ended its partnership with an algal research project at the Colorado School of Mines.
“At this point we have other programs that are ready for deployment,” Vijay Swarup, Exxon’s senior director of technology who ran algae research, told Bloomberg. “We need to get on the deployment curve for carbon capture, for hydrogen, for biofuels. Algae still needs some more work.”. The idea behind the technology is that algae, which can grow in places where other crops can’t and use ases like hydrogen and methane with significantly fewer associated emissions than fossil fuels.
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