Biofuels industry receives major funding to fight climate change
The biofuels industry experiences growth as both the DOE and the state of Illinois approve project funding to reduce carbon emissions, and the USDA predicts a record corn crop for next year. Catch up on these top stories you may have missed from last week:
The U.S. Department of Energy has announced up to $90 million in project funding focused on designing, constructing and operating integrated biorefinery facilities. The production of biofuels from sustainable, domestic biomass resources is an important strategy to meet the Obama administration’s goals to reduce carbon emissions and the nation’s dependence on imported oil. The funding opportunity will advance the Department’s goal of producing at least 3 total pioneer commercial plants over the next 12 years. Read the full article on Biofuels Digest.
The Illinois Senate unanimously approved legislation that opens the door for enhanced consumer choices, savings at the pump and increased demand for Illinois corn. The bill allows the Illinois Department of Commerce and Economic Opportunity to receive nearly $11.98 million from the Biofuels Infrastructure Partnership federal grant program. The matching grant will increase the number of pumps, storage and related infrastructure that offer higher blends of ethanol and gasoline, such as E15 and E85, or intermediate combination blends. Read the full article on AgriNews.
The USDA is projecting a record corn crop this year, estimating supplies to be at 16.3 billion bushels, up 886 million from last year. If farmers harvest as much as expected, the nation’s corn stockpile will reach the highest level since the mid-1980s at 2.2 billion bushels. U.S. corn use is projected at a record 14.1 billion bushels, with corn used to produce ethanol projected 50 million bushels higher than last year. Read the full article on Ethanol Producer Magazine.