After $100 Million, Exxon Backs Off Algae as Fuel

[kristopher]

21. I predict algae fuel manufacturing will find its sustainable place in agriculture

Not in petroleum. Even more than ethanol, algae is going to be a good fit for farms.

There is a need for moderately concentrated CO2 streams, which farms are in a good position to supply without great additional expense (harnessing biomethane from animal waste and composting, using it to power local generation).

The extraction of oil is done by pressing the dried algae. Very little additional treatment is required before use.

The algae can be dried using the waste heat from the biomethane generators.

This provides fuel to run the agricultural equipment and excess is sent to market.

Not exactly Exxon's cup of tea, they simply have no expertise that is especially useful.

ETA: my guess is that if we could examine their intellectual property portfolio we'd find the major thrust of their effort in the OP was an attempt to identify and lock up rights to strains of algae with high lipid content.