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Biofuel and Biobased Products Support: New Funding Opportunities

This act amends support programs for companies producing advanced biofuels, renewable chemicals, and biobased products. Citizens may benefit from the development of new technologies, potentially leading to greener products and fuels, and job creation in rural areas.
Key points
Expands financial support for the development, construction, and retrofitting of biorefineries, including for ultra-low-carbon and zero-carbon bioethanol production.
Introduces new competitive grants for pilot and demonstration projects to prove the commercial viability of technologies.
Simplifies the loan guarantee application process by allowing waivers of feasibility studies for proven technologies.
Increases available funding for support programs to $100 million annually from fiscal years 2024 through 2028.
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Additional Information
Print number: 118_HR_6413
Sponsor: Rep. Nunn, Zachary [R-IA-3]
Process start date: 2023-11-14