The U.S. Department of Agriculture (USDA) is seeking applications for funding to help support the development of advanced biofuels, renewable chemicals and biobased products. Funding is being provided through the Biorefinery, Renewable Chemical and Biobased Product Manufacturing Assistance Program, formerly known as the Biorefinery Assistance Program. The program provides loan guarantees of up to $250 million to develop, construct and retrofit commercial-scale biorefineries and to develop renewable chemicals and biobased product manufacturing facilities.
“The bioeconomy is a catalyst for economic development in rural America, creating new jobs and providing new markets for farmers and ranchers,” said Ag Secretary Tom Vilsack. “Investing in the businesses and technologies that support the production of biofuels and biobased products is not only good for farm incomes. The whole economy benefits from a more balanced, diversified and consumer-friendly energy portfolio, less dependence on foreign oil and reduced carbon emissions.”
Since the beginning of the Obama Administration, USDA has provided $844 million to 10 businesses through the program. Companies receiving these commitments are projected to produce 159 million gallons of advanced biofuels.
USDA will seek applications in two cycles. Applications for the first funding cycle are due October 3, 2016. Applications for the second cycle are due April 3, 2017. For more information, see page 48377 of the July 25, 2016, Federal Register. Application materials can be found on USDA’s Rural Development website.