OPX Biotechnologies (OPXBIO), a Colorado-based renewable biochemical and biofuel company, has been awarded a $6m grant by the US Department of Energy (DOE) through its Advanced Research Project Agency - Energy (ARPA-E) for the development of advancement biofuels.
The DOE has selected OPXBIO as one of 37 institutions from among 540 applicants to receive an ARPA-E grant in this second round of funding.
Charles Eggert, president and CEO of OPXBIO, said: “Together with our project partners, the National Renewable Energy Laboratory in Golden, Colorado and Johnson Matthey Catalysts, we will develop a new, economical bioprocess to convert hydrogen and carbon dioxide into diesel and jet fuel products that can compete to replace petroleum derived products without the need for price subsidies.”
The funding award to OPXBIO provides additional validation of the company’s proprietary EDGE (Efficiency Directed Genome Engineering) technology platform, which enables rapid development of economical and sustainable bioprocesses for the production of chemicals and fuels from a variety of renewable raw materials.
In this round, the DOE has awarded $106m to projects that could produce advanced biofuels more efficiently from renewable electricity instead of sunlight; design completely new types of batteries to make electric vehicles more affordable; and remove the carbon pollution from coal-fired power plants in a more cost-effective way.
Steven Chu, secretary of energy, said, “These projects show that the US can lead the next Industrial Revolution in clean energy technologies, which will help create new jobs, spur innovation and economic growth while helping to cut carbon pollution dramatically.”