Chevron works to develop fuel from algae |
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Wed, 31 Oct 2007 23:51
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SAN RAMON, Calif. (AP) - Chevron Corp. has partnered with the Energy Department to research and develop transportation fuels from algae, the company said Wednesday.The project is the second under a five-year biofuels research alliance between Chevron and the National Renewable Energy Laboratory announced in October 2006. It a new step in the push to develop renewable fuel sources, Chevron said.'Nonfood feedstock sources such as algae and cellulose hold the greatest promise to grow the biofuels industry to large scale,' said Don Paul, Chevron's chief technology officer.Chevron shares rose $1.43 to close at $91.51.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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