USDA announces $50 million in biorefinery financing support

In Washington, Agriculture Secretary Tom Vilsack today announced that USDA is accepting applications for up to $50 million in projects to promote the continued production and use of biofuels.

The $50 million in 2008 Farm Bill money will include $20 million under to provide financial incentives to biorefineries to replace fossil fuels used to produce heat or power at their facilities with renewable biomass; and $30 million to provide payments to eligible advanced biofuel producers to encourage the increased production and use of biofuels.

Applications for the advanced biofuels program are due Aug. 11; applications for the biorefineries to replace fossil fuels are due Nov. 1. More information is available here. To qualify, biorefineries must be located in a rural area and must have been in operation before the enactment of the 2008 Farm Bill (June 2008).

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