The Obama Administration established a Biofuels Interagency Working Group this week in a move that carries implications for the industry on several fronts, including regulatory and research and development.
The Obama Administration established a Biofuels Interagency Working Group this week in a move that carries implications for the industry on several fronts, including regulatory and research and development.
The Biofuels Interagency Working Group, comprised of the U.S. Environmental Protection Agency, Department of Energy (DOE) and Department of Agriculture, will develop a biofuels market development program, coordinate biofuel infrastructure policies, study biofuel lifecycle and help existing biofuel producers secure credit and refinancing.
Meanwhile, the DOE will spend $786.5 million in stimulus funds on demonstration projects and research to accelerate the adoption of next-generation biofuels.
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For example, the agency will dole out $480 million on 10 to 20 pilot-scale and demonstration-scale projects, with a ceiling of $25 million and $50 million, respectively. Another $176.5 million shall be used to increase funding for two or more commercial-scale biorefinery projects that previously received government assistance.
