A fourth round of funding has been released under the “Fueling our Future 100” totaling $368,200. The announcement was made by Iowa Gov. Terry Branstad, Lt. Gov. Kim Reynolds and Sec. of Agriculture Bill Northey. Six retailers were awarded monies for use to install renewable fuels infrastructure representing 7 sites, 15 new blender pumps and 3 underground storage tanks.
In total, 217 blender pumps and 18 underground storage tanks will be installed at 70 sites by 17 companies to provide consumers with access to higher blends of ethanol through the program.
The funding for the projects is from a $5 million competitive grant from the United States Department of Agriculture (USDA) Biofuel Infrastructure Partnership (BIP) program Iowa received to support the initiative. All funds must be matched by non-federal funds, including up to $2.5 million from the Iowa Renewable Fuels Infrastructure program. The fueling sites applying for assistance will also be required to provide a minimum of $2.5 million. Pumps and tanks funded through this round of funding for the program are required to be operational by the end of the federal fiscal year on September 30, 2017.