ExxonMobil to research algae-based biofuels with Synthetic Genomics

This morning, ExxonMobil (XOM) announced that it will enter an agreement with Synthetic Genomics (SGI) to research and develop next-generation biofuels from photosynthetic algae.

For those of us who were reared on The Jetsons, flying cars are the benchmark for stranger-than-life transportation advancements. Even so, the idea that we may actually have cars that can run on fuel produced by algae (or "pond scum," as my country ancestors would say) is pretty darn cool. The companies' "advanced biofuels" will be produced by photosynthetic algae and will, allegedly, be compatible with gasoline and diesel fuels.