This is not new technology. All the existing petro oil in the world came from this process, but it took time, naturally occurring CO2 and naturally occurring nutrients. It can surely be speeded up through modern technology but beware of claims like 'all the fuel requirements of the US can be met by allocating 1/4 the area of New Mexico to algae growth'. these plants have to located along side of major CO2 producers, like coal fired power plants. You also need nutrient producers nearby. I doubt the residents of NM would like to see the pipelines needed to feed this bio reactior plumbed through their yards.
The DOE did extensive testing in the 70's through the 80's. End result was cost was 2X or more the cost of refining dino oil. Was dropped in the late 80's, early 90's due to this and rumored pressure from big oil. Last couple of years it has resurfaced due to cost of foreign dino oil changing the economics and big oil is investing in it. No conspiracy today. Plenty of papers on the topic out there today. You would be surprised at the Co. names pushing this and variants. My employer (DuPont), included.
My suggestion ... when you stumble on something on the net that seems too good to be true, research it.