After making significant progress in understanding algae genetics, growth characteristics and increasing oil production, Synthetic Genomics, Inc. and ExxonMobil said they would extended their joint research agreement into advanced algae biofuels.

The two companies have been researching and developing oil from algae for use as a renewable, lower-emission alternative to traditional transportation fuels since 2009. They are seeking to develop strains of algae that demonstrate significantly improved photosynthetic efficiency and oil production through selection and genetic engineering of higher-performance algae strains.