Viridos Executes Agreement with ExxonMobil to Help Scale Algae Biofuels
Viridos low-carbon intensity biofuels may substantially reduce greenhouse gas emissions while providing a sustainable and scalable option to help reduce GHG emissions in heavy-duty transportation
LA JOLLA, Calif.–(BUSINESS WIRE)–Viridos Inc., previously Synthetic Genomics, a privately held biotechnology company harnessing the power of photosynthesis to create transformative solutions to help mitigate climate change, has signed a joint development agreement with ExxonMobil Research and Engineering Company (“ExxonMobil”) with the intent to bring Viridos’ low-carbon intensity biofuels toward commercial levels.
“We’re excited to announce that ExxonMobil is continuing this collaboration with us to bring sustainable algae biofuels technology closer to commercial deployment,” said Viridos’ CEO, Dr. Oliver Fetzer. “The recent productivity advances in Viridos’ technology are an opportunity to turn CO2 into renewable diesel and sustainable aviation fuels, providing an essential component for the decarbonization of the heavy-duty transportation industry. In this next phase of the program, we intend to broaden participation and invite others to build the ecosystem required for full-scale deployment.”
Founded in 2005 by leaders in synthetic biology, Viridos quickly established itself as a powerhouse for innovative research, transplanting the first genome, synthesizing the first bacterial genome and creating the first synthetic cell. In the past few years Viridos’ leadership in engineering microalgae has achieved greater than 5x bio-oil productivity increases by increasing both the oil content in the algae and the algae yield. The results from outdoor deployment of Viridos’ bio-engineered strains in 2020 and 2021 mark the inflection point toward deployment.
These advancements in bioengineering have positioned Viridos to be the leading enterprise in algal technology with the potential to facilitate significant reductions in greenhouse gas (GHG) emissions in the heavy transportation sector. Viridos’ continued partnership with ExxonMobil seeks to build out the technology and agronomy to enable the commercial launch of Viridos’ low-carbon intensity algae biofuels. In addition to their use in heavy transport, the algae biofuels could be used for aviation, commercial trucking, and maritime shipping. The terms of the renewed partnership with ExxonMobil should enable other interested parties to access and advance the technology to accelerate the deployment of Viridos’ patented technology in pursuit of lowering global GHG emissions.
“Our research with Viridos is one facet of our approach to help society identify and deploy the biofuels needed to reduce emissions from important sectors of the economy, including heavy duty transportation,” said Vijay Swarup, vice president of Research and Development at ExxonMobil. “ExxonMobil has supported Viridos in the development of advanced bioengineering tools, and we look forward to further advancements in the research that shows potential to help society mitigate the risks of climate change.”
About Viridos
Viridos (formerly Synthetic Genomics, Inc) is a privately held biotechnology company harnessing the power of photosynthesis to create transformative solutions to mitigate climate change. Our unparalleled understanding of algal genetics and ability to translate innovation from lab to field underpins our initial deployment: a scalable platform to produce low-carbon intensity biofuels for aviation, commercial trucking, and maritime shipping. Building on a legacy of genomic firsts, our team of scientists and engineers are shaping new pathways toward a sustainable bioeconomy.
Contacts
Kate Raley McIlroy – kate.raley@finnpartners.com
