05 May 2009 20:56 [Source: ICIS news]
HOUSTON (ICIS news)--The US Department of Energy (DOE), said on Tuesday it would invest nearly $800m (€600m) to commercialise renewable fuel production in the country, revealing further details in the Obama administration’s push for expanding the scope of US biofuels.
US Secretary of Energy Stephen Chu said the department would grant in the next three years $786.5m from the American Recovery and Reinvestment Act to companies pursuing biofuels research and commercialisation projects.
“Developing the next generation of biofuels is key to our current effort to end our dependence on foreign oil and address the climate crisis,” Chu said in a statement.
The DOE will award $480m to companies developing technology for advanced bio-based fuel, heat and power. Advanced bio-energy has to be derived from non-food sources and meet federal renewable fuel standards (RFS) for greenhouse gas emissions.
The department will also make $176.5m available for operators of commercial-scale biorefineries, $110m for bio-mass and algae-based energy and $20m for ethanol use and distribution infrastructure.
The news came on the heels of President Barack Obama’s announcement that the DOE, the Environmental Protection Agency (EPA) and the US Department of Agriculture (USDA) would form a working group to focus on reviving and expanding US biofuels production and use.
($1 = €0.75)
Bookmark Simon Robinson’s Big Biofuels Blog for some independent thinking on biofuels
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