'Green goo' biofuel gets a boost

CNN/technology
August 24, 2009 -- Updated 0228 GMT (1028 HKT)
By Steve Mollman For CNN

(CNN) -- Three years ago many would have dismissed the notion that a significant supply of the world's automotive fuel could come from algae. But today the idea, while still an adventurous one, is getting much harder to ignore.

Making green from green: Biofuel from algae has been given a boost in investment in recent years.

Back then there were only a handful of companies seriously focused on producing algae fuel. Now there are well over 50, according to Samhitha Udupa, a research associate with Lux Research.
The number should double within the next year or two, she adds, and private investment in algae fuel ventures has at least doubled every year since 2006, a trend likely to continue.

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