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21 January 2010 at 22:05 IST
UK, UAE joins hands to develop renewable energy
LONDON (Commodity Online): The British government partnered with the United Arab Emirates to develop a fund to help small businesses use green energy technology on a large scale. The British Department of Energy and Climate Change and the United Arab Emirates announced $1.6 million in joint funding to develop, support and guide renewable energy in the private sector.
“These two new collaborative projects are examples of exactly the type of global collaborative effort that we must encourage to tackle climate change problems,” said Ed Miliband, the secretary of the ECC.
In addition, research into the effort supports the work of the International Renewable Energy Association to encourage members to push for renewable energy legislation.
London and the United Arab Emirates agreed to establish the fund during a working meeting at the World Future Energy Summit in Abu Dhabi this week. Both sides present their final ideas on the project at the European Future Energy Forum in October.
A solution to expand the options for renewable energy resources is through the use of biofuels produced by algae, Exxon Mobil executives said in Abu Dhabi.
Emil Jacobs, vice president of research and development for Exxon Mobil, in a speech before the delegates at the 2010 World Future Energy Summit in Abu Dhabi said that with energy demands expected to rise by 35 percent in the next 20 years, all viable energy options must be explored.
“We believe that biofuel produced by algae could be a meaningful part of the solution in the future to produce an economically viable, low net carbon emission transportation fuel,” he said.
Exxon Mobil in September announced it had teamed up with Synthetic Genomics on a $600 million partnership to develop algae for the use in biofuels. Exxon Mobil said algae-based biofuels could generate as much as 2,000 gallons of fuel per acre per year, eclipsing palm tree, corn and sugar cane alternatives.
Jacobs said that while “significant work” was needed to exploit algae-based fuels, the technology could help meet the world's growing energy demands while reducing greenhouse gas emissions.
“Meeting our many energy challenges requires a multidimensional approach,” said Jacobs.
(EUNewsNet.com and OfficialWire)
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