Chevron, NREL join to study algae for fuel

from CNNMoney.com:

SAN RAMON, Calif., Oct. 31 /PRNewswire-FirstCall/ -- Chevron Corporation and the U.S. Department of Energy's National Renewable Energy Laboratory (NREL) announced today that they have entered into a collaborative research and development agreement to study and advance technology to produce liquid transportation fuels using algae.

Chevron and NREL scientists will collaborate to identify and develop algae strains that can be economically harvested and processed into finished transportation fuels such as jet fuel. Chevron Technology Ventures, a division of Chevron U.S.A. Inc., will fund the initiative.

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