VEOEY - TotalEnergies Veolia form partnership for biofuel production

metamorworks/iStock via Getty Images TotalEnergies ([[TTE]] -2%) and Veolia Environnement (VEOEY) announce a partnership in a four-year research project at Total's La Mède biorefinery with the long-term goal of producing biofuel. The companies say they are teaming up to accelerate the development of microalgae cultivation using carbon dioxide, with the ultimate goal of transforming the algae into biofuels with low carbon intensity. TotalEnergies will bring its expertise in the cultivation and refining of biomass to produce advanced biofuels and on carbon dioxide capture and utilization technologies, while Veolia lend its knowledge in the water sector to optimize management of the microalgae's aquatic environment. "This unique partnership enables TotalEnergies and Veolia to accelerate the production cycle of a promising alternative energy that is necessary to protect the planet," the companies say. TotalEnergies boasts strong financials, but the dividend is the biggest argument to hold the stock, Nikolai Galozi writes in a

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TotalEnergies, Veolia form partnership for biofuel production