More than 80 advanced biofuel companies, refineries and related operations are located in at least 27 states, according to a new Environmental Entrepreneurs analysis released Wednesday.
The analysis finds the biofuel market could be worth more than $60 billion within the next decade and more than 18,000 jobs could be created by the 26 biorefineries that are expected to open by 2015. Additionally, the data shows that the top five states for biofuels companies include California, Illinois, Colorado, Texas and Iowa.
The release of the analysis coincides with a new E2 website launch, www.fuelinggrowth.org. The site includes reports that examine the growth and potential of the domestic biofuel industry, information about the industry and videos and other stories that spotlight American biofuel companies in action.
Analysis released on the site finds states with highest number of biofuel companies include California, Illinois, Colorado, Texas and Iowa
The site also tackles the food vs. fuel debate. E2 says farmers are discovering new revenue opportunities for their agricultural waste and companies are developing new technologies to make fuels cleaner. As a result, biofuel refineries are popping up nationwide.
"We've got the resources, the knowledge and the technology to put our country on a path to meet our transportation needs with cleaner fuels," says Mary Solecki, analyst at E2.
According to E2, U.S. and Canadian biofuel production capacity increased from 427 million gallons in 2011 to more than 685 million gallons in 2012. Capacity is expected to increase to 2.6 billion gallons by 2015.
There are many ways states can integrate clean fuels into their mix, according to Solecki. Some states use tax incentives, while others like California and Oregon have a Low Carbon Fuel Standard and California has an Alternative and Renewable Fuel and Vehicle Technology Program (AB 118).
For more information, visit the new site at www.fuelinggrowth.org.