Biofuel and other chemicals from CO2

At UCLA (University of California - Los Angeles) James Liao is leading a research to create genetically modified algae which consumes CO2 from power plant fumes or any sources and creates biofuel or other usefull chemical compounds.

Their research has recently gotten some financial support from a Japanese company from Kaiteki Institute Inc. part of the Mitsubishi Chemical Holdings.

The revolutionary in this technology is that, it can create a material flow loop between burning fuel and the released CO2, which makes burning fuel sustainable as extra Carbon from oil and gas is not needed if the fuel generation is enough fast. The energy for this fuel generation is coming from the sun. More about the technology: here.