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USDA Invites Applications for Advanced Biorefinery Guaranteed Loans
22 November 2008
The US Department of Agriculture (USDA) is accepting applications for loan guarantees under the Biorefinery Assistance Program (Section 9003), authorized by the Food, Conservation, and Energy Act of 2008, (the Farm Bill). The Biorefinery Assistance Program is designed to promote the development of new and emerging technologies for the production of advanced biofuels.
The Biorefinery Assistance Program provides loan guarantees for the development, construction and retrofitting of viable commercial-scale biorefineries producing advanced biofuels. The maximum loan guarantee is $250 million per project subject to the availability of funds. Preference will be given to projects where first-of-a-kind technology will be deployed on a commercial scale. Advanced biofuels are defined as fuels that do not rely on corn kernel starch as the feedstock.
To be considered for funding in the first half of Fiscal Year 2009, applications must be completed and submitted no later than 31 December 2008. To be considered for funding in the second half of Fiscal Year 2009, complete applications must be submitted to the USDA Rural Development National Office between 1 March 2009, and 30 April 2009.
November 22, 2008 in Brief | Permalink | Comments (2) | TrackBack (0)
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Posted by: Kit P | November 22, 2008 at 09:24 AM
An open offer to develop up to $250M algal oil project. This is a gift for green fuel entrepreneurs. Hopefully their are some motivated businessmen ready to take up the challenge.
Posted by: reel$$ | November 22, 2008 at 09:50 PM
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This looks similar to DOE loan programs for renewable energy and nuke plants. A very large check must accompany the loan application. At this time there are more applications that there is money. DOE will be making money turning down applications.