Novozymes, Growth Energy back Stabenow amendment on cellulosic biofuels

In Washington, Sen. Debbie Stabenow, D-MI, was applauded by Novozymes after she included an extension of the Cellulosic Producer Tax Credit and Accelerated Depreciation Allowance for Cellulosic Biofuels Plant Property as an amendment to her transportation reauthorization bill, which is currently under debate in the Senate. Said Adam Monroe, president of Novozymes North America, “Long-term, forward thinking and stable policy is central to private investment. We thank Senator Stabenow for her leadership and urge Congress to approve these provisions, helping us transition our economy from oil to biology.”

Growth Energy, the leading coalition of ethanol supporters, said today it would support an amendment, offered by Senate Agriculture Committee Chairman Debbie Stabenow of Michigan, to encourage the production of cellulosic ethanol.

“We support Sen. Stabenow’s amendment because it will help consumers have access to the most affordable vehicle fuel on earth – ethanol.  We believe that as long as oil maintains it’s near monopoly over the market, this country needs to encourage the development of alternatives, like ethanol from cellulosic biomass. Otherwise we will always be victim to the saber-rattling of rogue states like Iran, which can drive up fuel prices for everyday Americans with just a threat,” said Tom Buis, CEO of Growth Energy.  “Ethanol from grain is already the most commercially-viable alternative to gasoline derived from foreign oil. We are very close to making cellulosic ethanol viable as well – and this policy will help a great deal with that.”

The Stabenow amendment was one of several amendments to the highway transportation bill that is expected to be voted on today or early next week. The Stabenow legislation will extend a series of expiring energy tax provisions.  Included in the amendment are extensions for the $1.01/gallon production tax credit for cellulosic biofuel through 2014, and an extension through the end of the year for the tax incentive to encourage gas station owners that use alternative fuel dispensers, like ethanol Flex Fuel pumps and E85 pumps.