Boston, United States [RenewableEnergyWorld.com] Allied Minds, a seed investment corporation specializing in early stage university business ventures, has partnered with the University of Washington (UW) to establish AXI LLC, which will commercialize new technology aimed at developing and creating commercially advantageous strains of algae for the production of biofuels.
“Our proprietary methodology for developing specific growth and productivity traits will help any algal production system improve its output of inexpensive, oil-rich algae as the raw material for the generation of biofuel,” said Biology Professor Rose Ann Cattolico, developer of the AXI technology at UW.
AXI is developing algal strains that could help bridge the gap between the promise of clean energy generation and the reality of economical biofuel production systems, the company said.
“We are extremely pleased to be working with Allied Minds in bringing a key component in biofuel production to the market. We’re confident we have a superior technology that will now be in a better position to hit the ground running as the alternative energy market continues to mature,” said David Brown, UW’s interim vice provost of intellectual property and technology transfer.