4. US Department of Energy invests over 1 billion in biofuel R&D projects
On the 4th of December, the Department of Energy announced that it had selected 4 biofuel projects to invest up to $7.7 million in. Combined with other investments, just this calendar year, DOE has granted over $1 billion in funding for biofuels research and development (multi-year funding) projects. A large part was already awarded in February, when it selected 6 bio refineries to invest $385 million in over the next 5 years.
The following six projects were selected:
Abengoa Bioenergy Biomass of Kansas: up to $76 million was granted to produce 11.4 million gallons of ethanol annually.
ALICO, Inc: up to $33 million was granted to produce 13.9 million gallons of ethanol a year.
BlueFire Ethanol Inc: up to $40 million was granted to produce 19 million gallons of ethanol a year.
POET/Broin Companies: up to $80 million was granted to produce 125 million gallons of ethanol per year, of which roughly 25 percent will be cellulosic ethanol.
Iogen Biorefinery Partners: up to $80 million was granted to produce 18 million gallons of ethanol annually.
Range Fuels (formerly Kergy Inc.): up to $76 million was granted to produce about 40 million gallons of ethanol per year.
These investments have accelerated the commercialization of cellulosic ethanol, showing political commitment and providing long term security for investors. It is probably one of the most important developments for the industry on the long run. However, because of the long term character of these investment, the DOE investments are listed number 4 in the most important ethanol events list of 2007.
3. EU heads of state agree on mandatory biofuels target, 10% by 2020
In March this year, the EU heads of state finally agreed to set binding targets for the incorporation of biofuels in its fuels matrix. In the equivalent of a white paper, they agreed to implement a legally binding target of 10% by 2020, in a renewable energies directive that is to be written up in 2008. Even though the ‘2020 vision’ needs further approval by member states in 2008 and even though the directive will only amount to around 8 billion gallons in 2020, it is the first serious step of one of the largest gasoline markets towards biofuels. Because of that, the European ´2020 vision´ is listed number 3 in the most important ethanol events list of 2007.
© Ethanol Statistics 2008
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