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BIO Asks Congress to Fully Fund Reverse Auction for Cellulosic Biofuel

The Biotechnology Industry Organization (BIO) released a letter to House and Senate appropriators asking them to fund Section 942 of the Energy Policy Act of 2005, Production Incentives for Cellulosic Biofuels, at the $25 million level in Fiscal Year 2011. The Section 942 program supports the production of cellulosic biofuels by providing payments on a per gallon basis through a reverse auction process.

The reverse auction program rewards pioneering cellulosic biofuel producers who can provide the most cost effective product. This program, if closely coordinated with other federal programs, can stimulate the private investment needed to build large-scale biorefineries to meet the energy production and greenhouse gas reduction goals of the United States.

—Brent Erickson, executive vice president for BIO’s Industrial and Environmental Section

Numerous federal and state governmental entities use reverse auctions to utilize taxpayer funds in as efficient a manner as possible.

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