US Department of Energy Inputs $25 Million into Biofuel Research
USDE funds $25 million to support the research on biofuel. The fund is aimed at decreasing cost of biofuel to less than $5 per gasoline in the next 5 years. Algae biomass has become a main focus of the research because it could be used to produce promising alternatives to petroleum-based diesel and jet fuels. However, the technology in cultivating, harvesting and converting the algae to biofuels is still waiting to improve and thus more research is necessary to be done. The project is just begun to show some result. The Cornell Consortium, which received the funding of Department of Energy from 2010, has made significant break through in algae cultivation and harvest. This year, the company is claimed to reach the milestone of increasing algae yield to 1,500 gallons per acre per year. Another good news comes from the market where the world’s largest renewable producers Neste Oil committed to buy crude oil from a company funded by the project.