"The oil giant is quitting an area of research it has long held up as part of a clean "energy future.""
"It’s the end of an algal era: Exxon is backing out of a biofuel effort that the company has for years centered as part of its work in clean energy.
Bloomberg reported Friday that ExxonMobil has cut ties with Viridos Inc., a California-based company that has worked with the oil giant since 2009 on its exploration into the possibilities of using algae to create alternative energy. The company has also ended its partnership with an algal research project at the Colorado School of Mines.
“At this point we have other programs that are ready for deployment,” Vijay Swarup, Exxon’s senior director of technology who ran algae research, told Bloomberg. “We need to get on the deployment curve for carbon capture, for hydrogen, for biofuels. Algae still needs some more work.”"
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