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Back You are here: Home Politics Funding & Incentives $30 million biofuel fund tied up to U.S. defense efforts

Funding & Incentives

$30 million biofuel fund tied up to U.S. defense efforts

The United States Department of Agriculture, the U.S. Navy and the Department of Energy started a $30 million private investment matching program that will pursue innovations in biofuel technologies tied up with energy security.

The funding fulfills the provisions of the Defense Production Act which pushes the enhancement of national security by creating and commercializing biofuels as an alternative to petroleum.

The funding will be done in two phases through a public-private partnership approach. The first phase will require applicants to submit a design package and business plan for a commercial-scale biorefinery, and identify and secure project sites.

Those selected to continue to the second phase will submit additional information for the construction or retrofitting of a biorefinery.

"D.P.A. is a critical component of strengthening our national security, and energy is a national security issue," said Navy Secretary Ray Mabus. "Our reliance on foreign oil is a significant military vulnerability and it would be irresponsible not to address it."

He adds that pursuing an alternative would help preserve budget for operational needs like training and shipbuilding.

The funding is included in President Barack Obama's "Blueprint for a Secure Energy Future," which details his "all-of-the-above" policy to meet the goal of reducing oil imports by one-third by 2025. The blueprint also directed the agencies to support the commercialization of biofuel substitutes for diesel and jet fuel. – EcoSeed Staff



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