Biofuels have long been studied and, like many alternative fuels, given corporate subsidies by the government, but they haven't made much progress. And that isn't just because subsidies discourage innovation, it is because of biology. Lignin, which helps cell walls thick in plants, is tough.
Plant geneticists have discovered the gene regulatory networks that control cell wall thickening by the synthesis of the cellulose, hemicellulose and lignin. If they can know it, and understand it, they can modify it, and that may mean viable biofuels.