Verenium Commends Creation of Biofuels Interagency Working Group to Speed Development of Energy Alternatives
News May 19, 2009
Verenium Corporation has applauded the formation of the Biofuels Interagency Working Group, which for the first time, brings together representation from the Department of Energy (DOE), U.S. Department of Agriculture (USDA) and the Environmental Protection Agency (EPA) to address a series of programs critical to the continued growth of the next-generation biofuels industry.
Specifically, President Obama has tasked this group with creating a comprehensive biofuels market development program, including policies to increase flex-fuel vehicles (FFVs); coordinate infrastructure policies to support supply, transport and distribution of biofuels; and identify policies to improve the sustainability of biofuels feedstock production.
“This move by the Administration represents an important next step in realizing the significant potential of next-generation biofuels here in the United States,” said Carlos A. Riva, President and Chief Executive Officer at Verenium. “We are on the cusp of realizing the potential of cellulosic ethanol technology, and initiatives such as those outlined in the President’s plan today are critical to enabling companies like Verenium to achieve commercial success.”
As part of this call to action, the White House is directing the USDA to begin refinancing existing investments to maintain jobs, and within 30 days, make available all financing opportunities included in the 2008 Farm Bill including:
• Biorefinery loan guarantees.
• Expedited funding to replace fossil fueled boilers with biomass.
• Expedited funding to biofuels producers to encourage production of next-generation biofuels from biomass and other non-corn feedstocks.
• Combination and expansion of existing rural energy programs to include hydropower, energy audits, and higher loan guarantee limits.
• Guidance and support for collection/harvest/storage/transport of biomass.
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