On August 20, 2014, the U.S. Department of Energy (DOE) announced that it intends to issue a Funding Opportunity Announcement (FOA) sometime in September to help reduce the cost of algae biofuels and bioproducts. DOE explains in the announcement that the Agency's Bioenergy Technologies Office's (BETO) "2019 projected state of technology for the cost of algal biofuels is modeled at about $7 per gallon gasoline gallon equivalent, without valuable co-products such as animal feed or commodity chemicals. This FOA seeks to improve the value proposition for algal biofuels by employing multi-disciplinary consortia to produce algae bioproduct precursors (alongside fuel components), as well as single-investigator or small-team technology development projects focused on crop protection and CO2 utilization technologies for improving biomass productivity. BETO hopes these strategies will enable a 30-50% cost reduction for algal biofuels." The FOA will be available online. Currently, the formal notice of intent to issue this FOA is available via this link.
A copy of DOE's announcement is available online.