After their first joint research effort on biofuels production from “Bio Oil Reforming Technology”, the United States National Renewable Energy Laboratory (NREL) and American Energy Company, Chevron, have announced a second research collaboration for algae-based biofuels development. The joint research effort (to be funded by Chevron) will focus on the identification and development of algal strains “that can be economically harvested and processed into finished transportation fuels”. Among the advantages in the use of algae as biofuel feedstock are: (1) high extractable oil content that can be processed into biodiesel, and (2) relative abundance with fast growth rates. NREL has research experience in improving the yield and productivity of key algal species from its previous efforts in the Aquatic Species Program for the Department of Energy in the 1980’s. Chevron, on the other hand, has the expertise in “transforming algal lipids into cost-competitive fuels”..