Chevron Corp and the National Renewable Energy Laboratory will work together to further develop the research of renewable energy fuels.

The US Department of Energy's NREL signed a five-year agreement with Chevron Technology Ventures LLC, a subsidiary of Chevron Corporation, to research and develop new production technologies for biofuels. They will research technologies to convert cellulosic biomass, such as forestry and agricultural wastes, into biofuels such as ethanol and renewable diesel, Chevron said in a statement.

Increasing the amount of fuels we can make from America's farms, forests and fields will greatly enhance the nation's energy security and economy and help the environment, said Dan Arvizu, director, NREL. Agreements such as this will help us accomplish that.

The NREL's involvement in the project goes in alliance with the DOE's promise to strengthen the national, economic and energy security of the US. Chevron's alliance with NREL will be its third partnership formed this year.

A spokesman for the company said Chevron and the NREL were not disclosing any financial figures relating to the alliance.

Chevron, a leading energy company, has research initiatives with the University of California at Davis and the Georgia Institute of Technology. These partnerships will also research cellulosic biofuels, by developing better and faster means to distribute the energy production.

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