07/04/2008 05:12 am ET Updated Dec 06, 2017

Algae: Biofuel, Cooking Oil, Health Supplement (VIDEO)

Algae may be the newest contender in the biofuel business. Biotech company Solazyme is developing multiple uses for algae, replacing petroleum, cooking oil and more. Solazyme claims that algae can grow into a processable form in a fraction of the time to grow corn. Solazyme has produced usable oil from the algae, even demonstrating it running a car, "It has a fantastic carbon footprint compared to regular petroleum based diesel." Watch the CNET video: