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US loan guarantees for biofuel refineries development

Hydrocarbon Engineering,

The US government announced US$ 181 million in loan guarantees to build commercial size refineries making advanced biofuels on Monday.

These loans will also be available for the retrofit of existing biorefineries to produce cleaner burning renewable fuels.

The Agriculture Department (USDA) has provided US$ 684 million since 2008, through the Biorefinery Assistance Program, supporting projects in eight states.

‘This financing will expand the number of commercial biorefineries in operation in the US that are producing advanced biofuels from non-food sources’, said Agriculture Secretary Tom Vilsack.

Michael McAdams, head of the biofuels trade group has said that the offer of loan guarantees will be ‘incredibly helpful’ to smaller companies that want to expand production.

Applications for the latest round of funding are due by 30th January 2014.

Edited from various sources by Emma McAleavey.

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