Researchers at The Institute for Genomic Research (TIGR) have sequenced the genome of Carboxydothermus hydrogenoformans, an extremophile bacteria that lives in a Russian volcano, eating carbon monoxide and producing hydrogen and CO2 as waste. Biological production of hydrogen is one of the candidates for how a fuel cell economy would be supported, so getting this sequence will help us better understand how hydrogen-forming bacteria do their voodoo.
Rather than give the full scientific breakdown of the research, I'll just point you to Mike Millikin's post at Green Car Congress.
