The US Energy Department has announced that up to US$ 10 million in funding will be provided to advance the production of advanced biofuels, substitutes for petroleum based feedstock, and bioproducts made from renewable, non-food based biomass.
The decision was made in support of the Department of Energy’s (DOE) efforts to make drop-in biofuels more accessible and affordable, and reduce the cost of gasoline to US$ 3.00/gal. by 2022.
The DOE is encouraging industry to invest in the production of cost competitive, advanced biofuels and bioproducts. It is hoped that advancing and commercializing biofuels will aid the reduction of current US petroleum consumption by approximately 30%. In turn, this would enhance US national security and reduce carbon emissions.
Adapted from a press release by Emma McAleavey.