BEIJING, May 25, 2010–Boeing [NYSE: BA] and the Qingdao Institute of BioEnergy and Bioprocess Technology (QIBEBT), Chinese Academy of Sciences, today announced the establishment of a joint laboratory to accelerate microalgae based research leading to the commercialization of sustainable biofuels for the aviation industry.

Called the Joint Research Lab for Sustainable Aviation Biofuels, it will be co-funded and managed by Boeing Research & Technology-China and QIBEBT, a research institute of the Chinese Academy of Sciences (CAS).

The joint laboratory stems from a memorandum of understanding signed in October 2009 by representatives of Boeing and CAS to work together on mutually beneficial technologies.

"Together, we believe we can more efficiently and quickly support research for the development of biofuel feedstock and new processing technologies than we would be able to do separately,” said Al Bryant, Vice President of Boeing Research & Technology-China. “We will be looking at technologies that can accelerate the implementation of biofuels and expand the scale of aviation biofuels production in China and worldwide.”

"We are very happy to work together with the Boeing Company to promote the research and development of the microalgae based biofuels for aviation. With the QIBEBT’s expertise and Boeing’s influence in the industry, there is no doubt that the high qualified products and technologies of excellence will be developed”, said PENG Hui, deputy director general of the QIBEBT.

Under the initial three-year agreement, the partners each will provide $500,000 in yearly funding, as well as in-kind services to support the lab’s operation.

Boeing has been at the forefront of sustainable aviation biofuel development throughout the world and is actively working with many different research institutes to realize regional solutions for a global need. The company is focused on sustainable biofuels produced from algae and other renewable resources that do not compete with food crops for land or water. Sustainable biofuels reduce greenhouse gas emissions over their life cycle while offering the potential to lessen aviation’s dependence on fossil fuels.

To date, Boeing has helped establish biofuels research programs at 13 universities and institutions in the United States, Australia, Europe, the Middle East, India and China.

Boeing Research & Technology, the company’s advanced, central research, technology and innovation organization, collaborates with Boeing business units, customers, suppliers, universities, and other research-and-development agencies throughout the world, to provide a broad base of innovative and affordable technologies for current and future aviation systems and services.

Boeing Research & Technology-China is focused on working with top researchers in China to identify and develop promising new technologies that will benefit Boeing’s customers, as well as the people of China.

Co-founded by CAS, the provincial government of Shandong and the municipal government of Qingdao in 2006, QIBEBT has been designated as one of China’s primary national research institutions for renewable energies and green materials, mainly focusing on research and development of the resources, technologies, products and processes forbio-based energies and materials.