USDA seeks applications for funding to advanced biofuelsStaff Writer | July 25, 2016
The U.S. Department of Agriculture (USDA) is seeking applications for funding to help support the development of advanced biofuels, renewable chemicals and biobased products.
Green fuels Consumer-friendly energy portfolio
"Investing in the businesses and technologies that support the production of biofuels and biobased products is not only good for farm incomes.
"The whole economy benefits from a more balanced, diversified and consumer-friendly energy portfolio, less dependence on foreign oil and reduced carbon emissions."
Funding is being provided through the Biorefinery, Renewable Chemical and Biobased Product Manufacturing Assistance Program, formerly known as the Biorefinery Assistance Program. Congress established the program in 2008 to encourage the development of biofuels that use renewable feedstocks.
The 2014 Farm Bill expanded the program to include renewable chemicals and biobased product manufacturing.
The program now provides loan guarantees of up to $250 million to develop, construct and retrofit commercial-scale biorefineries and to develop renewable chemicals and biobased product manufacturing facilities.
USDA has provided $844 million in loan commitments to 10 businesses in the Biorefinery, Renewable Chemical and Biobased Product Manufacturing Assistance Program since the start of the Obama administration.
Companies receiving these commitments are projected to produce 159 million gallons of advanced biofuels. ■