It has been believed that algae can help replace petroleum or fuels made from crops like corn and soybeans. Algae as the source of bio-fuel has gathered new interest and investment amid a search for energy sources that will limit carbon dioxide emissions blamed for climate change.
Its advantage is that it absorbs carbon dioxide, and thus can be used to 'scrub' emissions from coal-burning power plants and produce ethanol fuel. In a sign of the new enthusiasm, ExxonMobil announced in mid-July it would invest up to 600 million dollars in an alliance with biotech firm Synthetic Genomics to make a new bio-fuel from photosynthetic algae.
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