Energy Department to invest $10 million in advanced biofuel production

The Energy Department is set to invest up to $10 million (€7.2 million) in funding to advance the production of advanced biofuels.

Advanced biofuels are substitutes for petroleum-based feedstocks and bio-products made from renewable, non-food-based biomass, such as agricultural residues and woody biomass.

This supports the Department's efforts to make drop-in biofuels more accessible and affordable, as well as meet the cost target equivalent of $3.00 per gallon of petrol by 2022.

Advancing and commercialising cost-competitive biofuels will help the Department work toward its goal of reducing current petroleum consumption in the US by approximately 30% and as a result, reduce carbon emissions.

The Energy Department's Office of Energy Efficiency and Renewable Energy accelerates development and deployment of energy efficiency and renewable energy technologies and market-based solutions that strengthen US energy security, environmental quality and economic vitality.