Haynes and Boone's Newsroom

Paul Dickerson in Oil & Gas Journal: Algae's growing popularity
12/18/2009

Established investors, including one notable oil major, are putting money into early-stage companies developing algae-based biofuel. A handful of algae companies are among various entrepreneurs racing to commercially produce a next-generation biofuel.

Paul Dickerson, a partner with Haynes & Boone LLP, welcomes ExxonMobil's involvement in algae research. Dickerson launched the law firm's clean technology practice group. Formerly, he was chief executive of the US Department of Energy's Office of Energy Efficiency and Renewable Energy.

"All alternative energy provides a wonderful opportunity for incumbent energy companies," Dickerson said. "Exxon has been focused on energy production and distribution for generations. If we are bringing Exxon's expertise to alternatives, we as a nation are stronger."

He sees the clean technology industry entering a development phase where oil and gas companies can provide financial backing and also can provide valuable experience on converting successful laboratory results into practical commercial application.

"Clean-tech entrepreneurs are now looking to scale up, and oil companies know this drill," Dickerson said. "Oil companies have a long track record of planning, financing, and overseeing large projects. There are many areas for potential technical collaboration."

This article excerpted from Oil & Gas Journal. For full text click on the PDF linked below.