Joint effort to identify and develop algae strains for feedstock in
next-generation biofuels
SAN RAMON, Calif., Oct. 31 /PRNewswire-FirstCall/ -- Chevron
Corporation (NYSE: CVX) 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.
The research project announced today is the second under a five-year
strategic biofuels research alliance between Chevron and NREL announced in
October 2006. The first involves bio-oil reforming, a process by which
bio-oils derived from the decomposition of biological feedstocks are then
converted into hydrogen and biofuels.
"We are extremely pleased to join Chevron in this path-breaking
research," said NREL Director Dan Arvizu. "NREL operated the Aquatic
Species Program for the Department of Energy for nearly 20 years, giving us
unique insights into the research required to produce cost-effective fuels
from algal oils or lipids. Our scientists have the advanced tools and the
experience to rapidly increase the yield and productivity of key species of
algae. In Chevron we have found an ideal research partner with the skills
and knowledge to transform these algal lipids to cost-competitive fuels and
to distribute those fuels to consumers."
"Biofuels will play an increasingly important role in diversifying
energy supplies to meet the world's growing energy needs. Chevron believes
that nonfood feedstock sources such as algae and cellulose hold the
greatest promise to grow the biofuels industry to large scale," said Don
Paul, vice president and chief technology officer, Chevron Corporation.
"Collaboration between industry, universities, research institutions and
government is essential to overcoming the technological and commercial
challenges of manufacturing high-quality transportation fuels from
unconventional feedstocks. Chevron is pleased to partner with the nation's
preeminent renewable energy laboratory in this important research."
Algae are considered a promising potential feedstock for
next-generation biofuels because certain species contain high amounts of
oil, which could be extracted, processed and refined into transportation
fuels using currently available technology. Other benefits of algae as a
potential feedstock are their abundance and fast growth rates. Key
technical challenges include identifying the strains with the highest oil
content and growth rates and developing cost-effective growing and
harvesting methods.
About the National Energy Renewable Laboratory
NREL is the U.S. Department of Energy's (DOE) primary national
laboratory for renewable energy and energy efficiency research and
development. NREL is operated for the DOE by Midwest Research Institute and
Battelle. More information about NREL is available at http://www.nrel.gov.
NREL supports the DOE's Office of Energy Efficiency and Renewable
Energy (EERE) Biomass Program. NREL is the lead national laboratory of the
virtual National Bioenergy Center, which was established to support and
help the DOE coordinate the nation's biomass research activities. The
center has primary responsibility for carrying out the agenda of the Office
of the Biomass Program of the EERE and other related goals. Collaborating
with industrial, academic, related EERE programs and other governmental
research, development and commercialization efforts is central to that
agenda.
About Chevron
Chevron Corporation is one of the world's leading integrated energy
companies. We have approximately 58,000 employees, and our subsidiaries
conduct business in more than 180 countries. We operate across the entire
energy spectrum -- producing and transporting crude oil and natural gas;
refining, marketing and distributing fuels and other energy products and
services; manufacturing and selling petrochemical products; generating
power; and developing and commercializing the energy resources of the
future, including biofuels and other renewables. Chevron expects to spend
approximately $2.5 billion on alternative and renewable energy technologies
and energy efficiency services between 2007 and 2009. Chevron is based in
San Ramon, Calif. More information about Chevron is available at
http://www.chevron.com.
SOURCE Chevron Corporation
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Related links:
http://www.chevron.com
CONTACT:
Russell Johnson of Chevron Technology
Ventures, +1-713-954-6274; or George Douglas of NREL,
+1-303-275-4096
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