BP Alternative Energy Ventures and DSM Venturing B.V. have both invested in renewable fuel and chemical company Verdezyne. The two companies were part of a funding round that also included additional monies from existing investors OVP Venture Partners and Monitor Ventures. The announcement was made today during the BIO World Congress underway in Toronto. “We are thrilled to have these …
Oil Prices Drop, Gas Prices Rise
It’s Friday and that means its time to fill the gas tank. Just in time for weekend fun, it always seems like gas prices go up. Here in California, prices are hovering near the $4.40 per gallon mark. But this week, oil prices dropped 15 percent from a two-year high of $114.83 on Monday and today prices closed at $97.18. …
First Flex Fuel Pump Opens in Pennsylvania
Pennsylvania is the home of its first flex fuel pump. Rhoads Energy worked with Growth Energy to install the pump at its station located at 2176 Paxton Street, Harrisburg, PA. The pump was installed with assistance provided from Growth Energy’s 2010 E85 and Flex Fuel Pump Program. “Providing consumers with greater access to ethanol will help reduce our dependence on …
AEC Supports Domestic Energy Promotion Act
Iowa Senator Chuck Grassley along with a bipartisan group of senators, announced a proposed piece of legislation to promote the development of biofuel infrastructure. The Domestic Energy Promotion Act of 2011 would transition the current blender’s credit to a variable tax credit based on the price of oil, improve tax incentives for blender pumps and ethanol refueling infrastructure, and extend …
Biomass Grants Awarded By USDA and DOE
U.S. Agriculture Secretary Tom Vilsack and U.S. Energy Secretary Steven Chu today announced a total of $47 million to fund eight research and development projects that will support the production of biofuels, bioenergy and high-value biobased products from a variety of biomass sources. “The projects that we are announcing today will spur innovation in bioenergy by developing renewable resources that …
Ethanol Report on Domestic Energy Bill
A bill was introduced today in the Senate that would modify the current ethanol blender’s tax credit set to expire at the end of this year. Renewable Fuels Association president and CEO Bob Dinneen says the bipartisan Domestic Energy Promotion Act of 2011 introduced by Sen. Chuck Grassley (R-IA) already has a number of co-sponsors. “Senators Conrad, Johanns, Klobuchar, Franken, …
Senate Bill Would Modify Ethanol Tax Credit
U.S. Senator Chuck Grassley today introduced bi-partisan legislation to reform the current Volumetric Ethanol Excise Tax Credit (VEETC) while still supporting the domestic ethanol industry. Introducing the bill, Grassley said the Domestic Energy Promotion Act of 2011 would reduce the VEETC for a two year period before transitioning to a tax credit that would adjust based on the price of …
Iowa Legislature Passes Renewable Fuels Legislation
The Iowa Legislature today approved comprehensive renewable fuels legislation intended to increase E15 sales and biodiesel production. Iowa Renewable Fuels Association Executive Director Monte Shaw says the bill includes a new 3 cent per gallon retailer tax credit for E15 sales, allowing Iowa to lead the way in E15 public policy. “With final E15 approval expected from the EPA this …
Ethanol Leader Challenges EIA Reporting
The Energy Information Administration predicts only very modest production of cellulosic ethanol by the year 2022, but the industry is more optimistic. Renewable Fuels Association president Bob Dinneen challenged some of the reporting and assumptions the EIA made in the latest energy outlook, which administrator Richard Newell presented at the 4th International Biomass Conference in St. Louis this week. EIA …
Biomass Industry Execs Discuss Future
All energy of the bio variety – biomass, biogas, biodiesel and biofuels – were represented at the 4th International Biomass Conference and Expo on Monday during a panel featuring executives of seven different industry organizations. Moderator Tom Bryan, Vice President of BBI International, asked the panel was what the top priorities for their organizations are this year. “Just getting parity …