Takao Kashiwagi, a professor at the university, and six other people from the government, business and academic sectors will set up a foundation in April for the project...NEC Corp., Yokogawa Electric Corp. and Yaskawa Electric Corp. will also take part.

The wide-ranging project aims to develop technology to absorb and store carbon dioxide; conduct biofuel research; increase production of algae that can break down fats for use in health products; build large, floating artificial islands; and conduct research on infrastructure such as electricity, water and sewerage for offshore facilities.

Takenaka and partners is already experimenting with growing algae in an offshore tank in the sea off Okinawa Prefecture. The report says that the company will begin working with local governments in Hokkaido, Aichi, Akita, Aomori and Toyama prefectures in hopes of building a large offshore plant that can make fuel and other useful products.