Farm Bill's Energy Provisions Can Help Coordinate Advanced Biofuel Producers, Feedstock Growers
Posted on: Monday, 19 May 2008, 18:00 CDT
The Farm Bill can help to coordinate the efforts of biotechnology companies, biofuel producers and feedstock growers to increase production of advanced biofuels. The Biotechnology Industry Organization today hosted a news briefing to discuss energy and tax provisions in the recently passed Farm Bill that will help move the industry toward low-carbon advanced biofuels.
"The farm bill energy title will accelerate the commercialization of cellulosic biofuels technologies and will help ensure abundant fuel and food resources are produced by the nation's farmers and fuel producers," said Brent Erickson, executive vice president of BIO's Industrial & Environmental Section. "The energy title's provisions will help producers build biorefineries that create a market for dedicated energy crops, and it provides growers an incentive to transition to these crops. The bill also supports ongoing research and development that will help make advanced biofuel technology cost-competitive with mature fuel production technologies in the near future."
Other participants in the call included Anna Rath, vice president of commercial development, Ceres, Inc.; Darrin Ihnen, South Dakota farmer; and Jack Huttner, vice president of biorefinery development, Genencor a division of Danisco.
The Farm Bill includes an important new incentive for the development of cellulosic biofuels in a new, temporary production tax credit for up to $1.01 per gallon, available through December 31, 2012, with an estimated cost of $403 million over the ten-year budget window. The bill also includes loan guarantees to assist the construction of commercial biorefineries for production of advanced biofuels. It creates a Biomass Crop Assistance Program that will help farmers transition to growing cellulosic energy crops for these biorefineries. And it continues funding research and development into making advanced, low-carbon biofuels cost-competitive for consumers.
A recording of the call is available by dialing (800) 475-6701; use access code 922953. To obtain a transcript or more information, contact Paul Winters at (202) 962-9237 or pwinters@bio.org.
The Advanced Biofuels & Climate Change Information Center presents the latest commentary and data on the environmental and other impacts of biofuel production. Drop in and add your comments, at http://biofuelsandclimate.wordpress.com/.
BIO represents more than 1,200 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world's largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world.
Upcoming BIO Events
-- 2008 BIO International Convention June 17-20, 2008 San Diego, Calif. -- Pacific Rim Summit on Industrial Biotechnology and Bioenergy Sept. 10-12, 2008 Vancouver, BC
Source: Business Wire
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