Phillips 66 and Sapphire Energy Partner to Certify Crude Oil from Algae
Another major energy company has taken interest in renewable crude oil that is made from algae. Today Sapphire Energy and Phillips 66 announced a joint development agreement that will accelerate the certification of Sapphire’s Green Crude oil for processing in traditional refineries.
This step is a vital part of introducing a new fuel to market, and Phillips 66’s interest is another sign that algae cultivation technologies are gaining steam.
Sapphire, which announced a previous deal with an oil major earlier this year, is already producing its Green Crude on a daily basis and expects commercial production by 2018. We are on the way to a new domestic supply of renewable fuels!
More information about the deal can be found in the press release.