US government invests in biofuels industry
Biorefinery projects in the US will receive an investment of nearly $1.3 billion (€877 million) to advance next generation biofuel.
Nineteen biorefinery projects will receive $600 million from the American Recovery and Reinvestment Act and $700 million from private company investment.
Secretary of Energy Steven Chu said: ‘Advanced biofuels are critical to building a cleaner, more sustainable transportation system in the US. These projects will help establish a domestic industry that will create jobs here at home and open new markets across rural America’.
The investment is part of an effort to reduce US dependence on foreign oil and to build up the US biofuels industry.
Nineteen biorefinery projects will receive $600 million from the American Recovery and Reinvestment Act and $700 million from private company investment.
Secretary of Energy Steven Chu said: ‘Advanced biofuels are critical to building a cleaner, more sustainable transportation system in the US. These projects will help establish a domestic industry that will create jobs here at home and open new markets across rural America’.
The investment is part of an effort to reduce US dependence on foreign oil and to build up the US biofuels industry.
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