Exxon sees commercial algae production at least another 10 years away

In Texas, Exxon’s head of R&D told Bloomberg that commercial algae production is at least another 10 years away, although the company has already been investing in the technology for eight years. The algae investment and its work with the Renewable Energy Group using microbes to produce biodiesel from crop waste that was recently extended are examples of the hundreds of clean energy technologies the oil giant is researching as part of its $1 billion annual R&D budget.