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About $180 million in venture capital money has been raised for algae research this year. Some academic institutes have set up dedicated algae research centers; some start-ups are planning to test algae on larger demonstration projects in coming months.
"I'm convinced algae will work, but it'll take a different, out-of-the-box approach," said Silicon Valley billionaire Vinod Khosla, delivering the keynote address at the Algae Biomass Summit in Seattle last month.
The US federal government is starting to throw money into it. The Department of Energy has invested $2.3 million in algae-to-fuel grants so far this year. And the Defense Advanced Research Projects Agency is launching a new program to study algal feedstock material.
Startups and researchers are developing ways to maximize growth and reduce costs — growing it in the dark, increasing the amount of sunlight reaching the organisms, experimenting with oil-rich strains....
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