Exxon Mobil to try to develop biofuel from algae
Exxon Mobil Corp will invest $600 million over the next five to six years on trying to developing biofuel from algae, even though the oil major has said renewables will be only a small part of global energy supply.
The UAE has the potential to become a world leader in the algae-based biofuels market and is uniquely positioned to make a strong impact, industry experts said.