BP & Martek to Ferment Biofuels
The energy giant BP and Martek Biosciences, a Maryland based company that uses micro algae to produce oil-based nutritional and dietary supplements, signed a Joint Development Agreement (JDA) earlier this month to produce microbial oils for biofuels applications.
Under this agreement, BP will provide the cash — up to million for just the first phase — and Martek will provide the research expertise in algae fermentation technology. The idea is to develop a cost effective method of converting basic sugars derived from biomass into lipids, or microbial oils, with fermentation microorganisms. Chemical and thermocatalytic processes would then convert the oils into various types of biofuels.
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