Politics
U.S. provides $14 million for algae biofuel development
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23 Feb 2012
- Published on Thursday, 23 February 2012 15:14
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The Energy Department is providing $14 million for algae biofuel research and development, part of a new funding for research and development into alternative fuels announced by United States President Barack Obama on Thursday.
With the new funding announcement, the department is looking for proposals from small businesses, universities and national laboratories to modify existing facilities for long-term algae research and to test new production processes that could lead to commercial biofuels made from algae.
Applications for funding will be accepted until April 18. Selected projects will receive up to $14.3 million for fiscal year 2012, with an additional $6.7 million available in fiscal year 2014.
According to the agency, transportation fuels from algae have the potential to replace up to 17 percent of the U.S.'s imported oil for transportation. The department is currently supporting more than 30 algae-based biofuel projects, representing $85 million in total investments.
For fiscal year 2012, the department intends to invest a total of $30 million in algal biofuels.
Meanwhile, through the department's Advanced Research Projects Agency-Energy, $30 million will be made available for research into harnessing domestic natural gas for vehicles. The government will support projects that will develop lightweight tanks that can withstand high pressures for natural gas passenger vehicles. – EcoSeed Staff






