ExxonMobil's collaboration with Synthetic Genomics is now the most significant project in the algal biofuel industry

August 07, 2018 | Case Study

In 2009, ExxonMobil, the world's largest publicly traded oil and gas company, announced a research agreement with Synthetic Genomics Inc (SGI) for the joint development of algae to leverage SGI's capabilities in synthetic biology. The agreement was a momentous event in the algae industry, as it was the largest announced investment yet by a single company in algae development; ExxonMobil's promised investment was valued at $600 million and conditional upon the collaboration hitting specific but undisclosed milestones. While news reports suggest that these milestones were not reached in a timely manner, forcing ExxonMobil to readjust its goals, recent announcements indicate that breakthroughs have been reached over the past two years.

About Lux Research

Lux Research is a leading provider of tech-enabled research and advisory solutions, helping clients drive growth through technology innovation. A pioneer in the research industry, Lux uniquely combines technical expertise and business insights with a proprietary intelligence platform, using advanced analytics and data science to surface true leading indicators. With quality data derived from primary research, fact-based analysis, and opinions that challenge traditional thinking, Lux clients are empowered to make more informed decisions today to ensure future success.

Already a Lux Client?

Sign In

Interested in Learning More?

Contact us to learn the benefits of becoming a Lux member.

Or call us now

For North America (Boston Headquarters)
+1 (617) 502-5300

For EMEA (Amsterdam)
+31 20 280 7900

For APAC (Singapore)
+65 6592-6978