UK slashes Carbon Trust budget, eliminates algal biofuels project

In the UK, the government has cut the Carbon Trust’s budget by 40%. Nearly 40 employees will lose their job and the grant for Newcastle University’s algae-for-biofuels research program has been eliminated. The government argues that its promised green investment bank will take up part of the role of the Carbon Trust but negotiations have been stalled and the bank won’t likely be online until September 2012.

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