Post by account_disabled on Feb 17, 2024 22:57:01 GMT -6
According to The Guardian , one by one, the energy giants that touted investments in algae biofuels as the future for low-carbon transportation have retreated. Even after the last proponent of this initiative, Exxon Mobil, announced its withdrawal, experts say they are disappointed but not surprised that oil companies are abandoning promises to invest in biofuels.
Research into alternative energies like Middle East Mobile Number List algae was central to Exxon's green marketing campaigns for years. These were often noted as greenwashing practices rather than a genuine research effort to transition to cleaner energy.
Algae, a biofuel with great potential
The yield in biodiesel production - an example of biofuel because it is derived from vegetable oils, animal fats and recycled fats - with algae is about 300 times higher than that achieved with other oilseed plants such as soybeans and about 25 times that achieved with palm Due to these characteristics, algae are considered a promising energy resource.
Algae are made up of aquatic organisms that capture sunlight and carbon dioxide to carry out photosynthesis and thus produce energy, and also produce vegetable oils that can be transformed into biodiesel. By using excess carbon dioxide (CO2) from the atmosphere, algae also help reduce levels of this gas, which can help combat the greenhouse effect and climate change.
However, George Huber, whose biofuels research at the University of Wisconsin at Madison was funded by Exxon for years, says that while it is a promising technology, it is a challenging and very expensive market. And he adds: “It's not going to happen overnight. “It's great that they're making these commitments, but they know they need to start investing more capital into these projects.”
In its 12 years in space, Exxon invested $350 million in algae biofuels, according to spokesman Casey Norton. (Norton says that's more than double what the company spent promoting this research in ads.)
Oil companies abandon promises of investment in biofuels
Continuing with George Huber, the potential of algae as a feedstock for biofuels is twofold. First, algae can be grown in large concentrations in ponds, meaning they do not compete with food crops for arable land; and second, some strains of algae produce large amounts of lipids, which are fatty acids that can be converted into an oil that can be used as fuel.
But competing with abundantly available and heavily subsidized fossil fuels, particularly gas, is not so easy, according to Huber. «All the oil companies have been talking about the need to get into more sustainable things, but it is difficult to make money from them. And most of their money comes from oil,” he mentions.
One of the biggest challenges was that wild strains of algae couldn't provide the high levels of lipids needed to produce large amounts of fuel, said Todd Peterson, former director of the biotechnology company Viridos , the former and now former research partner of Exxon algae.
That's why Viridos focused on genetically modifying organisms to maximize lipid production. And they were making real progress. The magic formula for commercial viability of algae biofuels is a strain that can produce 15 g of oil per square meter in an outdoor environment, and one strain of Viridos had reached 10.
Oil companies abandon promises of investment in biofuels
Goodbye to biofuel financing?
Peterson, who worked for the company from 2013 to 2018, said he always got the impression that the Exxon scientists Viridos worked with were serious about research. “I'm disappointed,” he said of Exxon's withdrawal from algae, “but I try to keep an open mind. “You never know what the changing priorities are within a company.”
Viridos laid off 60% of its workforce after Exxon's withdrawal from the sector in December 2022, revealed by Bloomberg last month. In mid-April, Viridos announced a $25 million funding round led by Bill Gates' Breakthrough Energy, with Chevron and United Airlines also contributing.
Several former Viridos employees, who requested anonymity because they had signed confidentiality agreements, said Exxon research funds that supported Viridos' research into algae biofuels did not appear to be sufficient to conduct quality research.
However, the Exxon company was sending large teams into the algae ponds to obtain video for its advertisements, which made some of Viridos' employees feel that advertising efforts were being prioritized over research.
Does the electric transition leave out biofuels?
Matthew Posewitz, of the Colorado School of Mines and the National Renewable Energy Laboratory, who worked in an algae laboratory financed by Exxon for eight years, the news that oil companies abandon promises of investment in biofuels also responds to other reasons.
The algae boom emerged at a time in the early 2000s when it seemed like the world still needed to run on some form of liquid fuel, Posewitz says, but now another transition is on the horizon: the electrification of transportation, which means a smaller market for this type of biofuels, basically just airplanes and ships.
Posewitz credits Exxon: “They are paying attention to data and influencing research directions and informing academics about market needs.” “Sometimes academics can go in a direction that doesn’t meet any market needs.”
Agreeing with other specialists on the subject, the fact that oil companies abandon promises of investment in biofuels is an indication that the energy giants have other priorities and that research into algae biofuels will need more time and resources to develop.
Research into alternative energies like Middle East Mobile Number List algae was central to Exxon's green marketing campaigns for years. These were often noted as greenwashing practices rather than a genuine research effort to transition to cleaner energy.
Algae, a biofuel with great potential
The yield in biodiesel production - an example of biofuel because it is derived from vegetable oils, animal fats and recycled fats - with algae is about 300 times higher than that achieved with other oilseed plants such as soybeans and about 25 times that achieved with palm Due to these characteristics, algae are considered a promising energy resource.
Algae are made up of aquatic organisms that capture sunlight and carbon dioxide to carry out photosynthesis and thus produce energy, and also produce vegetable oils that can be transformed into biodiesel. By using excess carbon dioxide (CO2) from the atmosphere, algae also help reduce levels of this gas, which can help combat the greenhouse effect and climate change.
However, George Huber, whose biofuels research at the University of Wisconsin at Madison was funded by Exxon for years, says that while it is a promising technology, it is a challenging and very expensive market. And he adds: “It's not going to happen overnight. “It's great that they're making these commitments, but they know they need to start investing more capital into these projects.”
In its 12 years in space, Exxon invested $350 million in algae biofuels, according to spokesman Casey Norton. (Norton says that's more than double what the company spent promoting this research in ads.)
Oil companies abandon promises of investment in biofuels
Continuing with George Huber, the potential of algae as a feedstock for biofuels is twofold. First, algae can be grown in large concentrations in ponds, meaning they do not compete with food crops for arable land; and second, some strains of algae produce large amounts of lipids, which are fatty acids that can be converted into an oil that can be used as fuel.
But competing with abundantly available and heavily subsidized fossil fuels, particularly gas, is not so easy, according to Huber. «All the oil companies have been talking about the need to get into more sustainable things, but it is difficult to make money from them. And most of their money comes from oil,” he mentions.
One of the biggest challenges was that wild strains of algae couldn't provide the high levels of lipids needed to produce large amounts of fuel, said Todd Peterson, former director of the biotechnology company Viridos , the former and now former research partner of Exxon algae.
That's why Viridos focused on genetically modifying organisms to maximize lipid production. And they were making real progress. The magic formula for commercial viability of algae biofuels is a strain that can produce 15 g of oil per square meter in an outdoor environment, and one strain of Viridos had reached 10.
Oil companies abandon promises of investment in biofuels
Goodbye to biofuel financing?
Peterson, who worked for the company from 2013 to 2018, said he always got the impression that the Exxon scientists Viridos worked with were serious about research. “I'm disappointed,” he said of Exxon's withdrawal from algae, “but I try to keep an open mind. “You never know what the changing priorities are within a company.”
Viridos laid off 60% of its workforce after Exxon's withdrawal from the sector in December 2022, revealed by Bloomberg last month. In mid-April, Viridos announced a $25 million funding round led by Bill Gates' Breakthrough Energy, with Chevron and United Airlines also contributing.
Several former Viridos employees, who requested anonymity because they had signed confidentiality agreements, said Exxon research funds that supported Viridos' research into algae biofuels did not appear to be sufficient to conduct quality research.
However, the Exxon company was sending large teams into the algae ponds to obtain video for its advertisements, which made some of Viridos' employees feel that advertising efforts were being prioritized over research.
Does the electric transition leave out biofuels?
Matthew Posewitz, of the Colorado School of Mines and the National Renewable Energy Laboratory, who worked in an algae laboratory financed by Exxon for eight years, the news that oil companies abandon promises of investment in biofuels also responds to other reasons.
The algae boom emerged at a time in the early 2000s when it seemed like the world still needed to run on some form of liquid fuel, Posewitz says, but now another transition is on the horizon: the electrification of transportation, which means a smaller market for this type of biofuels, basically just airplanes and ships.
Posewitz credits Exxon: “They are paying attention to data and influencing research directions and informing academics about market needs.” “Sometimes academics can go in a direction that doesn’t meet any market needs.”
Agreeing with other specialists on the subject, the fact that oil companies abandon promises of investment in biofuels is an indication that the energy giants have other priorities and that research into algae biofuels will need more time and resources to develop.