Uncle Sam is forking over some cold hard cash to pump up biofuels.
Here’s what’s new: On Tuesday, the USDA announced they would start accepting applications for $100M in new grants to support infrastructure and conversion projects that will increase the use and distribution of higher blend biofuels.
Here’s what’s not: The Biden Administration is all about biofuels. These new funds are in addition to:
Through this new HBIIP round, grantees will enter a cost-share partnership with the USDA as they use grant and company funds to install and retrofit biofuel pumps, dispensers, storage tanks, and blending infrastructure.
So, what’s considered a “higher” blend? We’re glad you asked:
When making the program announcement, Secretary of Agriculture Tom Vilsack touted the program’s climate-smart goals and its benefits to rural communities.
Secretary soundbite: “Biofuels are homegrown fuels. Expanding the availability of higher-blend fuels is a win for American farmers, the rural economy, and hardworking Americans who pay the price here at home when we depend on volatile fuel sources overseas.”
Sign me up: The grants have a $5M maximum and will cover up to 50% of project costs. Companies can apply through November 21, so get ‘em in.