A $5 million sponsored research agreement with the Colorado Center for Biorefining and Biofuels (C2B2) has been announced today (1st July) by ConocoPhillips. The research programme is to concentrate on developing new ways to convert biomass into low-carbon transportation fuels. The new collaboration will build on a variety of active research projects being conducted by Colorado scientists and students to develop new sources of transportation biofuels. The first project will involve converting algae into renewable fuel.

"We are pleased to be launching this promising new research effort in conjunction with C2B2," said Stephen Brand, ConocoPhillips senior vice president, Technology. "This agreement with the Collaboratory offers a unique opportunity to combine the technical strengths of the member institutions with ConocoPhillips' spirit of innovation to drive discovery of the next generation of transportation fuels."

"This commitment by ConocoPhillips marks the first multi-year sponsored research project for C2B2 and is another milestone in our drive to make Colorado the nation's renewable energy capital," said David Hiller, executive director of the Colorado Renewable Energy Collaboratory. "We look forward to working with ConocoPhillips to create new forms of clean energy."