Navy plans to acquire advanced biofuels at parity this year

In Washington, the Navy plans to set up two solicitations for advanced biofuels this year by way of the Defense Production Act. The Navy believes it will be able to source the fuels at a price competitive with existing fossil fuel supplies, rather than paying several times the current fossil fuel price as it has done in the past. Already the Navy has contracted 170 million gallons of advanced biofuels at below $4 per gallon with production set to start in 2016.