US DOE Injects $18 Million into Algae Technology Development
US Department of Energy has announced that it will fund $18 million to six algae based biofuels projects in order to reduce the price of algae based biofuels to less than $5 per gasoline gallon equivalent by 2019. This funding will also support the development of bio economy that can help create green jobs and achieve national energy security.
The projects will help develop new technologies that can achieve higher yields of targeted bio products and biofuels from algae.