A partnership, AXI, to develop and create commercially advantageous strains of algae for the production of biofuels has been set up by the University of Washington and  Allied Minds, a seed investment corporation. AXI, says Allied Minds, is developing algal strains that will bridge the gap between the promise of clean energy generation and the reality of economical biofuel production systems.

"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," says Biology Professor Rose Ann Cattolico, developer of the AXI technology at the University of Washington.

"We're very excited to be playing a part in providing alternative sources for renewable energy. This technology will permit the economic use of clean algae as a viable replacement to petroleum-based fuels," said Allied Minds CEO, Christopher Silva.

"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," stated David P. Brown, UW's interim vice provost of intellectual property and technology transfer.

The initial funding for AXI, LLC is being provided by Allied Minds.