USDA distributing $537 million in funding for biofuel infrastructure
The USDA is allocating $537 million under the Higher Blends Infrastructure Incentive Program (HBIIP) to enhance U.S. biofuel infrastructure. Covering over 540 projects in 29 states, the funding supports fueling stations in offering biofuels like E15, E85, and B20. The initiative aims to boost domestic biofuel production, support farmers, and strengthen rural economies.
The U.S. Department of Agriculture (USDA) is giving out $537 million in funding via the Higher Blends Infrastructure Incentive Program (HBIIP) for American biofuel infrastructure.
Those HBIIP funds are being released for over 540 projects across 29 states, the USDA said Monday as it announced the move.
The HBIIP seeks to “expand the production of domestic biofuels” like E15, E85 and B20 “by helping fueling stations install the pumps, storage containers, and other necessary infrastructure needed to offer biofuel options at the pump,” according to the department. The program dates back to 2020.
The USDA also said HBIIP grants “protect American farmers from retaliatory trade practices, diversifies the nation’s energy supply, creates jobs and supports economic growth in rural communities.”
New projects that received approval after President Donald Trump took office in January are among some of those receiving the $537 million in grants, according to the USDA.
“President Trump is honoring our commitment to America’s farmers, ranchers and small businesses, especially here in Iowa, where corn and soy growers are crucial to supporting ethanol and biodiesel production,” USDA Secretary Brooke Rollins said. “Through HBIIP, we will expand access to domestic, homegrown fuels, which will increase good-paying jobs for hardworking Americans, restore rural prosperity and strengthen our nation’s energy security.”
“The world has changed and those in the energy space, as in oil and gas, no longer see biofuels as direct competition and find that they have found ways to work together in a more complex energy world,” he said.
He also noted that farmers “need oil to plant and harvest” and that global oil demand and growth “can allow for cooperation and profitability on both sides.”
The newly announced HBIIP funds could boost domestic biofuel production, according to Flynn.
The Energy Information Administration predicted in March that production of fuel ethanol will amount to 1.05 million barrels per day on average in 2025. For biodiesel, it was a projected average of 100,000 barrels per day.
Fuel ethanol blending will amount to 930,000 barrels per day on average this year, according to the EIA’s forecast.
To read more about Ethanol Industry & Bio Energy News, continue reading Agriinsite.com
Source : MSN
