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Millions to go toward biofuels funding, announces DOE

Last week, the U.S. Department of Energy announced that $90 million in funding will go toward integrated biorefinery facilities.

In an effort to reduce carbon emissions, the funding will focus on the construction and design of the facilities that will manufacture biofuels, biopower and bioproducts, according to a May 6 press release from the DOE. Advancing energy goals of the administration, the move aims to minimize dependence on imported oil and enhance energy security in the U.S.

Currently, around $1 billion is spent by the U.S. on imported oil every three days, reported CNBC News. However, the production of biofuels from “sustainable, non-food, domestic biomass resources” is set to change that.

Estimates from a 2011 IEA projects report forecast that 27 percent of transportation fuel worldwide will come from biofuels by the year 2050.

“The domestic bio-industry could play an important part in the growing clean energy economy and in reducing American dependence on imported oil,” said Lynn Orr, under-secretary for science and energy of the DOE, in the press release. “This funding opportunity will support companies that are working to advance current technologies and help them overcome existing challenges in bioenergy so the industry can meet its full potential.”