The US Energy Department have invested $ 250 million into six new algae bio fuel projects with the aim to bring the cost of algae down to $ 300 by 2030 helping liquid fuel - friendly cars such as the Chevy Volt . Partners include research from Duke ##tech 's MAGIC ( Marine fuel Industrialization Consortium ) , and algae , a leading developer of algae - based bio products .
The US Energy Department have invested $18 million into six new algae bio fuel projects with the aim to bring the cost of algae down to $3 by 2030 helping liquid fuel-friendly cars such as the Chevy Volt. Partners include research from Duke University's MAGIC (Marine Algae Industrialization Consortium) program and Cellena, a leading developer of algae-based bio products.