BP Gets Into Algae: Signs Multi-year Development Agreement with Martek Biosciences
photo: Rosa y Dani via flickr
Another fossil fuel company investing in algae: BP has announced that it will be partnering with Martek Biosciences to work on advancing development of conversion of sugars into biodiesel, using Martek's "unique algae-based technologies and intellectual property."BP Biofuels CEO Phillip New touted the technology:
As an alternative to conventional vegetable oils, we believe sugar to diesel technology has the potential deliver economic, sustainable and scaleable biodiesel supplies. In partnering with Martek, we combine the world's leading know-how in microbial lipid production with out expertise in fuels markets and applications, and our more recent experience in biofuels production and commercialization.
This technology is also a perfect fit with out other strategic choices for biofuels...It is part of our approach of integrating sugar cane and lignocellulosic biofuels with advanced technologies to produce products with a wide range of uses.
Some of that recent experience was finding out that jatropha is much more difficult feedstock to work with on a large commercial scale that thought: BP recently disentangled itself from its partnership with D1 Oils.
Can Be Used For Diesel or Jet Fuels - 90% Emission Reductions
BP pumps up the fact that production of biofuels via the fermentation of sugars offers to potential to produce fuels with greenhouse gas emissions reductions of 80-90% below traditional fossil fuels, can be use with a wide variety of biomass feedstocks, and has the ability to tailor the end product for a variety of diesel and jet fuel needs.
In the initial phase of the multi-year collaboration Martek will perform all the R&D;, for which BP will be contributing $10 million.