Big oil firms touted algae as climate solution. Now all have pulled funding

Insiders aren’t surprised as ExxonMobil, the last remaining proponent of green algae biofuel, ends research

One by one, big oil firms have touted their investments in algae biofuels as the future of low-carbon transportation – and one by one, they have all dropped out. Now in the wake of the last remaining algae proponent, ExxonMobil, announcing its withdrawal, insiders say they are disappointed but not surprised.

Algae research was central to Exxon’s green marketing campaigns for years, and frequently criticized as greenwashing rather than a genuine research effort.