Exxon’s withdrawal was just the latest setback for the algae biofuels industry, which since the early 2000s has burned hundreds of millions of dollars in venture capital with the promise of ...

In February, ExxonMobil gave up its decade-long attempt to cultivate algae as a profitable and scalable feedstock for biofuel — a liquid alternative energy source needed to power aviation, ocean ...

Algae has tremendous promise as an alternative fuel. But Exxon’s pullout from algae research is a major setback.

(Bloomberg) — For over a decade, Viridos Inc. was the centerpiece of Exxon Mobil Corp.’s heavily advertised push to develop climate-friendly biofuels from algae. The oil major slashed its ...

For over a decade, Viridos was the centerpiece of Exxon Mobil's heavily advertised push to develop climate-friendly biofuels from algae. The oil major slashed its support for the company last year ...

Algae Fuel Company That Exxon Once Bankrolled Finds New Funders Viridos announced a $25 million round of financing from Breakthrough Energy Ventures, United Airlines and Chevron, after Exxon Mobil ...

Oil giant ExxonMobil’s decision to abandon its 14-year, multimillion-dollar support for research into making fuel from algae ended years of funding for projects at the Colorado School of Mines ...

Exxon's divestments, and lack of success in exploration, make the recent news about its abandonment of algae-based biofuels production plans all the more consequential for its long-term prospects ...

Exxon Gives Up on Much-Hyped Algae Biofuels The oil giant is quitting an area of research it has long held up as part of a clean "energy future." By Molly Taft Published February 13, 2023 ...

After advertising its efforts to produce environmentally friendly fuels from algae for over a decade, Exxon Mobil is now quietly walking away from its most heavily publicized climate solution.

Algae projects are most sustainable when combined with other processes like wastewater treatment, something big companies aren’t always aligned with.

As for Exxon’s algae efforts, it turns out the company has spent more money on corporate advertising ($500 million between 2009 and 2015) than on its research into the biofuel ($300 million ...