It seems to me the big shots are circling the wagons. hmmmmm, I wonder WHY?
Algal Biofuels

BP ploughs 10 million into Algae Biofuel
EXCERPT:
BP ploughs $10m into algae biofuel research partnership
Partnership with Martek Biosciences to focus on new techniques for converting sugar into biodiesel

James Murray, BusinessGreen, 14 Aug 2009

These guys are pissing me the hell off, and you?
EXCERPT:
In the biggest, Sapphire Energy of San Diego, Calif., plans to break ground on a 300-acre biorefinery in New Mexico later this year. Another recipient, Solazyme Inc., uses a fermentation method to produce algae-based fuels and has contracts to provide the U.S. Navy with 1,500 gallons of jet fuel and 20,000 gallons of diesel to power navy ships; the company is converting an existing plant in Pennsylvania into a demonstration biorefinery. Big oil companies, including ExxonMobil and BP, also have invested in algae-biofuel projects or companies.

Execs from BP and Monsanto join Sapphire board
EXCERPT:
Noted execs from Monsanto, BP join Sapphire Board; Chromatin nabs new CTO from Syngenta; SG taps new CFO
At Sapphire Energy, Chromatin and SG Biofuels, an influx of new talent was announced that continues to confirm that the promise of advanced biofuels is attracting top-tier talents from the financial, agricultural, and biotech communities.

Sapphire Energy tapped former Monsanto CEO Robert Shapiro, former BP executive director David Allen and venture capitalist David E. Shaw to its board of directors. Allen, an advisor to PetroSaudi after driving BP corporate strategy between 2003 and 2008, commented that “Sapphire ins the only company I have seen in this space that has a shot at having a major world-scale impact on oil production.” Shapiro added “Sapphire’s has made fundamental advances in biotechnology …revolutionizing fuel production, but also having a fundamental impact on agriculture. Shapiro has served on the boards of the New York Stock Exchange, Citigroup and Rockwell International.

Algal Biofuels
Algal BiofuelsAlgal biofuels are generating considerable interest around the world. They may represent a sustainable pathway for helping to meet the U.S. biofuel production targets set by the Energy Independence and Security Act of 2007. Microalgae are single-cell, photosynthetic organisms known for their rapid growth and high energy content. Some algal strains are capable of doubling their mass several times per day. In some cases, more than half of that mass consists of lipids or triacylglycerides—the same material found in vegetable oils. These bio-oils can be used to produce such advanced biofuels as biodiesel, green diesel, green gasoline, and green jet fuel.Renewed Interest and FundingHigher oil prices and increased interest in energy security have stimulated new public and private investment in algal biofuels research. The Biomass Program is reviving its Aquatic Species Program at the National Renewable Energy Laboratory (NREL) to build on past successes and drive down the cost of large-scale algal biofuel production. rivate investors and programs within the Defense Advanced Research Projects Agency (DARPA) and Air Force Office of Scientific Research (AFOSR).NREL, Sandia, and other laboratories are also launching research into algal biofuels for pBiofuels made from microalgae hold the potential to solve many of the sustainability challenges facing other biofuels today.Growing America’s Energy FutureBiomass Program Benefits of Algal BiofuelsImpressive Productivity: Microalgae, as distinct from seaweed or macroalgae, can potentially produce 100 times more oil per acre than soybeans—or any other terrestrial oil-producing crop.Non-Competitive with Agriculture: Algae can be cultivated in large open ponds or in closed photobioreactors located on non-arable land in a variety of climates (including deserts).Flexible on Water Quality: Many species of algae thrive in seawater, water from saline aquifers, or even wastewater from treatment plants.Mitigation of CO: 2During photosynthesis, algae use solar energy to fix carbon dioxide (CO) 2into biomass, so the water used to cultivate algae must be enriched with CO. This requirement offers an 2opportunity to make productive use of the CO from power plants, biofuel 2facilities, and other sources.Broad Product Portfolio: The lipids produced by algae can be used to produce a range of biofuels, and the remaining biomass residue has a variety of useful applications:—combust to generate heat—use in anaerobic digesters to produce methane—use as a fermentation feedstock in the production of ethanol—use in value-added byproducts, such as animal feed


Nova Gen charged by SEC w/Fraud in coal to biofuels scandal
Nova Gen charged by SEC with fraud in coal-to-biofuels scandal
In California, the SEC charged Nova Gen Corporation and two of its executives with fraud and unregistered sale of securities, after the alternative energy company sold $2.3 million in shares based on a technology the company said would convert coal to liquid biofuels.

The SEC has charged that the company projected income of “$377 million to $737 million” in its first year of operations and $13-$17 trillion by year five, and claimed assets of $49 million and EBITDA of $21 million in 2006, despite the company never having revenues or operation.