Chevron to Provide Funding for Alternative-Fuel Research at Georgia Tech
Posted on: Friday, 16 June 2006, 18:00 CDT
By Matt Kempner, The Atlanta Journal-Constitution
Jun. 16--Oil giant Chevron is donating up to $12 million over the next five years toward Georgia Tech's research into alternative fuels. The company and the school announced the donation and research alliance Thursday.
The gift will fund work on improving the economic viability of hydrogen and biofuels for transportation.
Biofuels such as ethanol can be made from a variety of sources, including corn and sugar cane. But Tech has been looking closely at improving the process of making ethanol from wood, an avenue it hopes will use significantly less energy than it takes to produce ethanol from corn.
Proponents see ethanol manufacturing as a new customer to boost Georgia's beleaguered timber industry.
Chevron said it expects to spend $400 million this year on developing solutions for energy efficiency as well as technologies for alternative and renewable energy.
Overall, interest in biofuels such as ethanol and biodiesel has increased dramatically in the past year and a half as the price of oil has soared, making energy alternatives more financially attractive.
Tech's research will look into the feasibility and demands required to produce large volumes of biofuels from materials such as wood or switch grass. Researchers also will try to develop materials to reduce the production costs and improve the performance of hydrogen made from natural gas.
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CVX,
Source: The Atlanta Journal and Constitution
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