Algae-based biofuels will be the beneficiaries of a government-backed effort to get the fuels made from microbes down to less than $5 per gasoline gallon equivalent (gge) by 2019. The U.S. Department of Energy announced $25 million to reduce those production costs, hopefully down to an eventual goal of $3 gge by 2030.

The funding announced today will support projects in two topic areas: Topic Area 1 awards (anticipated at 1–3 selections) will range from $5–10 million and focus on the development of algae cultures that, in addition to biofuels, produce valuable bioproducts that increase the overall value of the biomass. Topic Area 2 awards (anticipated at 3–7 selections) will range from $0.5–1 million and will focus on the development of crop protection or carbon dioxide utilization technologies to boost biomass productivity in ways that lead to higher yields of algae.

You can learn more about this funding opportunity here, including signing up for an informational webinar to be held on Wednesday, October 8, 2014.