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Federal Agencies will Partner to Commit $510 Million to Spur Biofuels Industry
The Department of Agriculture, the Department of Energy and the Navy will invest up to $510 million during the next three years to produce advanced drop-in biofuels to power military and commercial transportation. To accelerate the production of these advanced bio-based jet and diesel fuels, the federal agencies in partnership with the private sector will work to jointly construct or retrofit several drop-in biofuel plants and refineries. The joint plan calls for a substantial cost share commitment from private industry partners — of at least a one-to-one match. The biofuels initiative will be steered by the White House Biofuels Interagency Work Group and Rural Council. Read the press release...