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A biotechnology company in Massachusetts has created a genetically engineered organism capable of producing diesel fuel or ethanol, which can be used to run cars and jet engines.

Joule Unlimited claims that the cyanobacterium can create 15,000 gallons of diesel full per acre annually. Also, the company says it can do this at $30 a barrel.

Joule Unlimited plans to begin building a 10-acre demonstration facility this year, and hopes to be operating commercially as soon as two years.

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