There's no word yet on how this small development might touch Exxon (NYSE: XOM), Chevron (NYSE: CVX) or Conoco (NYSE: COP), but a little upstart in New Zealand called Aquaflow Bionomic Corporation has successfully test driven a vehicle fueled with a biodiesel blend called B5. The new fuel technology exploits biodiesel, which is readily created from harvested algae grown in nutrient rich sewage settling ponds. The best part is that the algae used is created in huge volumes by a process that is already in wide spread use.

In an article reported on the Green Progress website, Aquaflow states that they are years ahead of original estimates regarding when this technology could become available. They say that the next step is to attain the capacity to produce one million litres of this algae based biodiesel per year.

So far the company has attracted some moderate attention from private investors. They had announced that their prospectus would be available by Christmas time but I've not seen one yet. My request for one has been sent. When I receive it I'll be sure to let you know.