US invests in Biofuel development
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Over the next three years, government authorities in the US are to invest US$510 million in biofuel development for use in commercial and military transportation. The U.S. departments of Energy and Agriculture and the U.S. Navy are funding research by companies looking for a viable alternative to fossil fuels. “What we’re doing is providing resources for the construction of these commercial-sized operations, assistance with feedstock, and then also a ready, willing and able customer ready to purchase the product,” Agriculture Secretary Tom Vilsack told Bloomberg. The involvement of the Agriculture Department will assist partners in finding source crops, meanwhile the Navy offers a large potential market.
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