WASHINGTON, D.C. (January 10, 2007) – Biotechnology Industry Organization (BIO) President and CEO Jim Greenwood today expressed support for the incentives outlined in the Governors’ Ethanol Coalition report, “Ethanol from Biomass: How to Get to a Biofuels Future.”
“The technology for commercial production of ethanol from cellulosic biomass is ready today, but no modern biorefineries are currently operating to make use of the technology,” said Greenwood. “The production incentive proposed by the governors would help jumpstart the construction and commercial operation of modern biorefineries by pioneering companies. We need to move quickly to ramp up production of renewable fuels that can help America move toward energy independence.”
BIO supports the Governors’ Ethanol Coalition’s recommendations to create a Cellulosic Ethanol Production Tax Credit and to fully fund research, demonstration and incentive programs authorized in the Energy Policy Act of 2005.
“With ongoing advances in industrial biotechnology, biofuels can help America meet nearly half its transportation-fuel needs by the middle of this century. BIO supports the production of ethanol from all feedstocks. Agricultural biotechnology is helping to increase corn yields, while industrial biotechnology is helping to convert corn starch and crop residues into ethanol more efficiently.” Greenwood added.
BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and 31 other nations. BIO members are involved in the research and development of healthcare, agricultural, industrial and environmental biotechnology products.