Exxon Mobil Corp., the biggest U.S. oil company, plans to invest more than $600 million to develop biofuels with J. Craig Venter’s Synthetic Genomics Inc. The venture will focus on making fuels from algae, Irving, Texas based Exxon Mobil said today in a statement. The company said it expects to spend $300 million on internal costs and pay “potentially more than $300 million” to biotech specialist Synthetic Genomics, known as SGI. Oil companies are investing.....Complete Story
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