The U.S. Navy is pouring funds into environmentally friendly algae fuel to be used on board its ships and aircraft.
The biofuel’s producer, Solazyme, just signed its third contract with the military to provide the algae-based biofuel – 150,000 gallons by 2011. The company has already delivered 20,000 gallons to the Navy.
Solazyme will also perform additional research and development using using its renewable oil-production technology platform.
Solazyme’s CEO Jonathan Wolfson said his company’s Soladiesel Renewable Naval Distillate fuel “can be a significant component of the Navy’s long term strategy to supply 50 percent of its energy from renewables by 2020.”
“Reducing dependence on foreign oil is a national-security imperative, and Solazyme’s technology focuses on producing an abundant, domestic and renewable source for oil and fuels,” Wolfson added.