Bioenergy Funding Released
Vilsack discusses several investments that are being made to further renewable energy.
Compiled by staff
Published: Jan 21, 2011
Agriculture Secretary Tom Vilsack has announced that biofuels and biomass energy projects across America have been selected for funding from the Biorefinery Assistance Program. This program provides loan guarantees to entrepreneurs eager to take advantage of the growing opportunities in renewable energy provided by advanced biofuels.
The Secretary says building an active biofuels and biomass industry in every region of the country will help create jobs and provide economic opportunity for people who live in rural communities. The latest announcement is that the program will provide $405 million in guarantee loans to projects in Alabama, Mississippi and Florida.
Renewable Fuels Association President Bob Dinneen says these loan guarantees will be absolutely instrumental in bringing advanced and cellulosic ethanol production to the commercial market. Dinneen called the loan guarantees timely and a much needed boost help this nation realize its potential for domestically-produced renewable alternatives to imported oil.
During the press conference Vilsack also announced new investments in 33 states to support the production and usage of advanced biofuels and also discussed a Department of Energy conditional commitment to Diamond Green Diesel, LLC, a proposed joint venture between Valero Energy Corporation and Darling International Inc., for a $241 million loan guarantee. The guarantee will support the construction of a 137 million gallon per year renewable diesel facility in Norco, La., about 20 miles west of New Orleans. Valero Energy Corporation plans to direct the design, construction and operation of the project and market all of its output. Darling International Inc. will supply feedstock to the project.
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Tagged: biofuels, ethanol, cellulosic ethanol
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