Energy Department Allocates $118 Million to Biofuel Projects
Late last week, the Department of Energy announced $118 million in funding to help expand U.S. biofuel production. Growth Energy CEO Emily Skor said the funds will undoubtedly accelerate the innovations taking place at U.S. ethanol plants.
“It will open many new opportunities for low-cost, low-carbon energy,” Skor said.
She also pointed out that President Biden has said there will be no achieving the goal of net zero by 2050 without biofuels, and the announcement shows that the DOE is committed to that mission.
“We are excited to see new technologies scaled up with these funds, particularly the work underway at Marquis, Inc., a Growth Energy member that received $8 million for a project that combines CO2 with low-carbon hydrogen to create a new production stream of extra-low-carbon ethanol.”
A project like that will end up slashing carbon emissions by at least 70% or more compared to petroleum-based alternatives.
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