Biofuel Gains Big Company Attention
While numerous small companies are believed to be the pioneers of biofuels' future, the financial investment needed to propel the industry is massive. Since small companies such as Solazyme and Amyris don't have the capital to invest, larger companies are contributing to biodiesel growth nationwide. As we dive into the many investors of biofuel. ensure your restaurant is participating in Used Cooking Oil Collection Los Angeles
After discovering the variety of benefits, ExxonMobil, DuPont, and BP have been investing in biofuel technologies. Because of their financial resources, their market capitalizations exceed the smaller companies by approximately 1,000 times. In turn, their impact on biodiesel technology has the potential to be much more influential in the long run.
According to The Motley Fool, ExxonMobil has already spent an estimated $100 million on algae-based biofuel development and is now seeking to invest in more sustainable strains with the assistance of Synthetic Genomics. This is an addition to its existing budget of $600 million that was originally intended for its development. While these figures would destroy a small company, ExxonMobil is able to gamble the funds.
Further, DuPont has invested in cellulosic ethanol and BP has researched biobutanol as an alternative for modern fossil fuels. As DuPont recently acquired Danisco and Genencor, their production of enzymes for typical corn-based ethanol has skyrocketed. What's more, this production has created the framework for creating these materials at such large scales. Its commercial sized facility is set to open in Iowa by the end of the year and is capable of producing upwards of 30 million gallons of ethanol from corn feedstock.
Another advantage to these types of feedstock fuels is that they are able to be produced at regular production facilities. For example, ethanol and biobutanol can be created in the same location to an extent without any major facility modifications. In turn, the production of these beneficial biofuels has steadily increased over the past few years.
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