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.