California to invest $176m in alternative fuel portfolio

22 April 2009 23:15  [Source: ICIS news]

HOUSTON (ICIS news)--California will invest $176m (€136m) over the next two years in transportation projects that use alternative and renewable fuels, the state Energy Commission said on Wednesday.

The investment plan falls under the state’s Alternative and Renewable Fuels and Vehicle Technology Program of 2007, which calls for California to reduce its greenhouse gas emissions by 80% below 1990 levels by 2050 and decrease petroleum fuel use to 15% below 2003 levels by 2020.

“Achieving these multiple objectives will require a portfolio of new fuels and vehicle technologies,” commission spokeswoman Susanne Garfield said.

Making the investments will also help the state compete for billions of federal stimulus dollars directed toward alternative energy development, commission Chairman Karen Douglas said in a statement.

Over the next two years, the commission will invest $46m in electric vehicle development; $43m for natural gas vehicle and fuel development; $40m for hydrogen fuelling stations; $12m for advance ethanol development and fuelling stations; $6m for advance biodiesel facilities; and $2m for propane vehicles.

The remainder of the investment will go to workforce training, research, public education and technical assistance programs, the commission said.

($1 = €0.77)

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By: Ben Lefebvre
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