This isn't just good news because corn tastes a hell of a lot better than algae. Read on ...

ExxonMobil announced an alliance Tuesday with biotech firm Synthetic Genomics to make a new biofuel from photosynthetic algae.

The biggest US energy firm said it was partnering with the firm headed by Craig Venter, a researcher who founded Human Genome Sciences and Celera Genomics and has worked on projects to sequence the genomes of humans, fruit flies and other organisms.

ExxonMobil said it expects to spend more than 600 million dollars if certain milestones are reached to produce the fuel, which does not contribute to greenhouse emissions.

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