Started Aug 18, 2022 07:00PM UTC   •   Closing Jan 01, 2024 04:59AM UTC

When will ExxonMobil next positively mention algae-based biofuels in its quarterly financial report?

ExxonMobil is partnering with synthetic biology firm, Viridos (formerly "Synthetic Genomics"), to scale algae-based biofuels (Bloomberg, Nasdaq).  

Question will be resolved if algae-based biofuels or a specific algae-based biofuel project is positively mentioned in ExxonMobil’s press releases for their quarterly earnings, which includes a section highlighting initiatives related to their goal of reducing carbon emission (e.g., see “Leading the Drive to Net 0: Biofuels and Hydrogen” section of the 2Q 2022 Report). A “positive mention” refers to the inclusion of an update involving, but not limited to, ExxonMobil's continued research, production, or use of algae-based biofuels. If the company mentions algae-based biofuels in the context of no longer pursuing this capability, then this question will resolve as “No”.

These press releases can be found at the bottom of ExxonMobil's quarterly earnings page. Algae-based biofuels were most recently mentioned in the 1Q 2018 Report, where ExxonMobil and Viridos (then "Synthetic Genomics") announced "a new phase in their joint algae biofuel research program that could lead to the technical ability to produce 10,000 barrels of algae biofuel per day by 2025."  

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