Synthetic Genomics and ExxonMobil Renew Algae Biofuels Research Agreement
January 18 2017 - 9:00AM
Business Wire
- Renewal continues fundamental research
into advanced biofuels
- Large team of researchers focused on
Synthetic Genomics’ core synthetic biology technologies
- Progress continues toward development
of algae-based transportation fuels
Synthetic Genomics, Inc. and ExxonMobil (NYSE: XOM) announced
today that they have extended their agreement to conduct joint
research into advanced algae biofuels after making significant
progress in understanding algae genetics, growth characteristics
and increasing oil production.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20170118005112/en/
ExxonMobil and Synthetic Genomics have been jointly researching
and developing oil from algae for use as a renewable,
lower-emission alternative to traditional transportation fuels
since launching the program in 2009. Work continues toward
developing strains of algae that demonstrate significantly improved
photosynthetic efficiency and oil production through selection and
genetic engineering of higher-performance algae strains. The
agreement continues to focus on Synthetic Genomics’ core strengths
in synthetic biology and builds on recent discoveries of biological
pathways regulating lipid production and growth in advanced algal
strains.
“Together with ExxonMobil, we have made significant strides to
identify and enhance algal strains capable of high oil production
while still maintaining desirable rates of growth,” said Oliver
Fetzer, Ph.D., chief executive officer of Synthetic Genomics. “The
extension of our agreement reflects the tremendous progress made to
date, and the promise in using our core synthetic biology
technologies to build cell production systems capable of reshaping
industries.”
Vijay Swarup, vice president for research and development at
ExxonMobil Research and Engineering Company, said that renewal of
the agreement underscores the importance of the research and
recognition of milestones the team has achieved together over the
past few years.
“Synthetic Genomics and ExxonMobil remain committed to advancing
the scientific fundamentals of algal biofuels,” Swarup said. “We
know this will be a long-term endeavor and are optimistic based on
the results we have seen to date.”
The development of algae biofuels and a path toward
commercial-scale production remain key components of ExxonMobil’s
suite of research projects focused on producing energy to meet
global demand while reducing greenhouse gas emissions to mitigate
the risk of climate change.
ExxonMobil is engaged in a broad range of research on advanced
biofuels, partnering with universities and other companies. The
purpose of these research and development programs is to explore
new technologies and seek the best pathways toward scalable and
cost-effective production of advanced biofuels.
Global demand for transportation fuels is projected to rise by
nearly 30 percent through 2040, and accelerating the reduction in
emissions from the transportation sector will play a critical role
in reducing global greenhouse gas emissions.
Cautionary Statement:
Statements of future events or conditions in this release are
forward-looking statements. Actual future results, including
project plans and timing and the impact of new technologies, could
vary depending on the outcome of further research and testing; the
development and competitiveness of alternative technologies; the
ability to scale pilot projects on a cost-effective basis;
political and regulatory developments; and other factors discussed
in this release and under the heading “Factors Affecting Future
Results” on the Investors page of ExxonMobil’s website at
exxonmobil.com.
About ExxonMobil
ExxonMobil, the largest publicly traded international energy
company, uses technology and innovation to help meet the world’s
growing energy needs. ExxonMobil holds an industry-leading
inventory of resources, is among the largest refiners and marketers
of petroleum products and its chemical company is one of the
largest in the world. For more information, visit
www.exxonmobil.com or follow us on Twitter
www.twitter.com/exxonmobil.
About Synthetic Genomics
Synthetic Genomics Inc. is a leader in the field of synthetic
biology, advancing genomics to better life. Synthetic Genomics
applies its intellectual property in this rapidly evolving field to
design and build biological systems solving global sustainability
challenges. Synthetic Genomics’ core technology enables two
connected genome-writing businesses: engineering advantaged cell
platforms and printing biological components. The company’s
subsidiary, SGI-DNA, is revolutionizing science and medicine by
automating next-generation genomic solutions for life sciences.
Synthetic Genomics applies its integrated synthetic biology and
engineering capabilities to create and commercialize novel
solutions and transform existing products. Synthetic Genomics is
reinventing bio-based production by improving existing production
systems and developing novel, optimized production hosts. The
company develops its products and solutions, typically in
partnership with leading global organizations, across a variety of
industries including sustainable bio-fuels, sustainable crops,
nutritional supplements, vaccines, biotherapeutics and
transplantable organs. More information is available
at www.syntheticgenomics.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170118005112/en/
ExxonMobilMedia Relations, 972-444-1107orSynthetic GenomicsMedia
RelationsJason Spark, 619-849-6005
Exxon Mobil (NYSE:XOM)
Historical Stock Chart
From Aug 2024 to Sep 2024
Exxon Mobil (NYSE:XOM)
Historical Stock Chart
From Sep 2023 to Sep 2024