Chevron to develop biofuels and hydrogen
Posted: 26 June 2006
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Chevron Corporation and the Georgia Institute of Technology have formed a research alliance that aims at making cellulosic biofuels and hydrogen viable transportation fuels.
Chevron Technology Ventures, a subsidiary of Chevron, plans to collaborate with Georgia Tech's Strategic Energy Institute and contribute up to $12 million over five years for research into and development of these emerging energy technologies.
The focus is to develop commercially viable processes for the production of transportation fuels from renewable resources such as forest and agricultural waste. This is viewed as an important advancement over first-generation biofuels such as ethanol and biodiesel, which are made from agricultural crops such as corn, sugarcane and soybeans.
"This research alliance underscores Chevron's commitment to expand and diversify the world's energy sources and represents an ambitious effort to achieve breakthrough technology in the development of cellulosic biofuels," said Don Paul, vice president and chief technology officer, Chevron.
"Beyond this project, Chevron in 2006 expects to spend approximately $400 million in the development of alternative and renewable energy technologies and in delivering energy efficiency solutions," added Paul.
"Once developed, second-generation processing technology will allow waste products to be converted into renewable transportation fuels, opening the door to a new phase in alternative energy," said Rick Zalesky, vice president of Biofuels and Hydrogen, Chevron Technology Ventures (CTV).
The alliance will focus its research on four areas: production of cellulosic biofuels, understanding the characteristics of biofuel feedstocks, developing regenerative sorbents and improving sorbents used to produce high- purity hydrogen.
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