Valero Services, a subsidiary of the oil refiner Valero Energy, has signed a joint development agreement with Algenol Biofuels to share technology regarding "production and distribution of transportation fuels and chemicals," the company announced Thursday.
Algenol Biofuels, which was founded in 2006, has developed technology that capitalizes on certain types of algae with natural sugar-making abilities, harnessing their enzymes to ferment sugar into ethanol. The metabolically enhanced algae are grown in bioreactors. They're then manipulated with a combination of things like nutrients, water, pH levels, temperature, and salinity to produce ethanol, according to Algenol.
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