19 March 2010, 09:33 BST
The UK has targetted pondlife as its source of future renewable energy after eleven leading institutes signed up with the Carbon Trust to deliver 'next-generation' biofuels from pond algae.
"Applying principles this country has developed from its proud agricultural heritage and leading bioscience expertise we will be developing a truly sustainable biofuel that could provide up to 80% carbon savings compared to diesel savings in car and jet fuel. With a market value of over £15 billion the potential rewards are high." said Tom Daley of the Carbon Trust.
The Carbon Trust, an NGO set up by government to take the lead on low carbon initiatves, is keen to establish algae-based biofuels by utilising its large 'pond-type' freshwater ecosystems.
These slow-moving freshwaters teem with algae, and the Carbon Trust believes it can analyse these different strains to identify those which deliver a specialised form of fuel known as 'algal oils'.
They will then look at these algae for ways it can develop large scale manufacturing facilities.
The project will be funded by the Carbon Trust which is in turn funded by UK businesses, amounting to £8 million pounds, and over 70 leading scientists.
Universities such as Manchester, Newcastle, Southampton and Plymouth Marine Laboratory are all involved.