One of the world's biggest oil companies is pumping more than $1 billion a year into alternative forms of energy from algae engineered to bloom into biofuels and cells that turn emissions into electricity. The funds from Exxon Mobil Corp. are for more than a hundred of research projects on environmentally-friendly technologies in five to 10 key areas, according to vice president of research and development Vijay Swarup. While any commercial breakthrough is at least a decade away, Exxon's support for clean energy suggests the world's most valuable publicly-traded oil company is looking toward the possibility of a future where fossil fuels are less dominant.

Exxon allots billions to turn algae into fuel. (2017, November 5). Manila Standard, p. B2.