Gene scientist Craig Venter has announced plans to develop next-generation biofuels from algae in a $600m (£370m) partnership with oil giant Exxon Mobil. His company, Synthetic Genomics Incorporated (SGI), will develop fuels that can be used by cars or aeroplanes without the need for any modification of their engines. Exxon Mobil will provide $600m over five years with half going to SGI. "Meeting the world's growing energy demands will require a multitude of technologies and energy sources," said Emil Jacobs, vice president of research and development at ExxonMobil. "We believe that biofuel produced by algae could be a meaningful part of the solution in the future if our efforts result in an economically viable, low-net carbon emission transportation fuel." Transport accounts for one-quarter of the UK's carbon emissions and is the fastest growing sector. Finding carbon-neutral fuels will be crucial to the government meeting its target to reduce overall emissions by 80% by 2050.
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