The bill would expand federal assistance for facilities that make advanced biofuels, renewable chemicals, and biobased products from renewable biomass. It would allow year-round loan guarantees and create competitive grants for pilot or demonstration-scale biorefineries. Grant applications would be scored on factors such as market potential, environmental effects, rural economic development, and ability to scale. The bill includes ultra-low-carbon and zero-carbon bioethanol in its definition of advanced biofuels.
Eligible businesses and other entities could apply for loan guarantees or grants for qualifying biorefinery projects. The bill does not provide direct benefits to individuals. Grant applicants would need to cover part of project costs from non-federal sources.
The bill provides $40 million for each fiscal year from 2025 through 2029 for loan guarantees and grants. A grant could cover no more than 60% of a project's cost. Materials could make up no more than 30% of the non-federal share. Assistance would depend on available funding.
No publicly available information.
No publicly available information.