New US government funding for biofuels growth

A $62 million (€49.2 million) development is the latest effort by the US government to invest in biofuels.

Around half that figure will be made available via federal funding to advance the development of biofuels to replace diesel and jet fuel used in both the military and the commercial and shipping sectors.

The rest of the investment will be used to fund research into early-stage biofuel production as the US looks to end an over-reliance on foreign oil imports.

The $30 million outlined for the production of advanced aviation and marine biofuels to power military and commercial transportation comes from the $510 million earmarked by the Navy and the US departments of Energy and Agriculture for such projects over the next three years.

The government has stipulated that individuals looking for funding under the new announcement will have to submit a design and business plan for a commercial-scale biorefinery, identify and secure project sites, and take additional required steps. Those who pass that first step will then have to submit additional information on the construction or retrofitting of a biorefinery.