The USDA is planning to invest up to $500 million to increase the availability of domestic biofuels and give Americans additional cleaner-fuel options at the pump.
“By expanding the availability of homegrown biofuels, we’re strengthening our energy independence, creating new market opportunities and revenue streams for American producers, and bringing good-paying jobs and other economic benefits to rural and farm communities.”
The first group of applicants for funding through the Higher Blends Infrastructure Incentive Program will receive $25 million for 59 infrastructure projects. In July, the USDA will start accepting applications for another $450 million in grants through the HBIIP.
These grants will support the infrastructure needed to lower out-of-pocket costs for transportation, fueling, and distribution facilities to install and upgrade biofuel-related infrastructure like pumps, dispensers, and storage tanks. Grants cover up to 75 percent or $5 million of total project costs to help facilities convert to higher-blend fuels.
- NAFB