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President Announces Support for Biofuels Development

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Speaking at Ohio State University Thursday, President Obama announced that up to 35-million dollars over three years will be provided to support research and development in advanced biofuels, bioenergy and high-value biobased products. The projects funded through the Biomass Research and Development Initiative will help cut America’s oil imports, develop clean alternative energy technologies, and protect American families and businesses from the ups and downs of the global oil market.

Ag Secretary Tom Vilsack says – this funding represents the kind of innovation we need to build American-made, homegrown biofuels and biobased products that will help to break our dependence on foreign oil and move our nation toward a clean energy economy. Energy Secretary Steven Chu says – investing in next-generation biofuels helps boost the competitiveness of the U.S. biofuels industry, supports economic development in rural communities, and creates skilled jobs for American workers.

The dollars will support feedstock development, biofuels and biobased products development, and biofuels development analysis.

Source: NAFB News Service