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Financing Our Energy Future Act Will Foster Innovative, Bio-Based Projects

The Biotechnology Innovation Organization (BIO) today thanked Senators Chris Coons (D-Del.) and Jerry Moran (R-Kan.) and Representatives Mike Thompson (D-Calif.) and Ron Estes (R-Kan.) for introducing the Financing Our Energy Future Act.

United’s ‘Flight for the Planet’ Utilizing Biotechnology for Most Eco-Friendly Commercial Flight of its Kind

Biotechnology Innovation Organization (BIO) President and CEO Jim Greenwood released the following statement today on the departure of United Airlines’ “Flight for the Planet.” The flight, which is traveling on World Environment Day from Chicago O’Hare to Los Angeles, is the most eco-friendly commercial flight of its kind in the history of aviation. 

BIO Applauds Bipartisan Congressional Letters Supporting Funding of Farm Bill Energy Programs

Biotechnology Innovation Organization (BIO) President and CEO Jim Greenwood today applauded a Senate letter authored by Senator Tina Smith (D-Minn.) and a House letter authored by Representatives Angie Craig (D-Minn.) and Mike Bost (R-Ill.) expressing support for funding Farm Bill energy programs in Fiscal Year 2020 appropriations.

BIO Urges Congress to Extend Biofuels Tax Incentives

The Biotechnology Innovation Organization BIO today submitted the following statement for the record to the House Ways and Means Subcommittee on Select Revenue Measures urging Congress to retroactively extend the biofuels tax incentives that expired at the end of 2017. The subcommittee today held a hearing entitled “Temporary Policy in the Internal Revenue Code.”

BIO Launches New Report Profiling 100 Renewable Chemical Technology Companies

BIO's new “Renewable Chemical Platforms Building the Biobased Economy” report documents the rapid expansion of renewable chemical platforms and applications around the world, profiling 100 companies from 16 countries that are commercializing renewable chemical applications.

USDA Biobased Economy Report Indicates Potential for Rural Prosperity with Renewable Chemicals

BIO today welcomed USDA’s release of a new report, Indicators of the U.S. Biobased Economy, which measures substantial economic growth, job creation, and household income from biofuel and bioenergy production and future growth in renewable chemicals and biobased products.

BIO Submits Testimony for Hearing on Recently Expired Tax Credits

BIO submitted written testimony to the U.S. House Ways and Means Subcommittee on Tax Policy, for the hearing “Post Tax Reform Evaluation of Recently Expired Tax Provisions,” asking the committee to provide a seamless multi-year extension of the Second Generation Biofuel Producer Tax Credit; the Special Depreciation Allowance for Second Generation Biofuel Plant Property; the Biodiesel and Renewable Diesel Fuels Credit; and the Alternative Fuel Vehicle Refueling Property, which Congress recently extended retroactively for 2017 but are currently expired.

BIO Written Testimony for House Ways and Means Hearing on Expired Tax Provisions

BIO supports a seamless multi-year extension for the Second Generation Biofuel Producer Tax Credit; Special Depreciation Allowance for Second Generation Biofuel Plant Property; Biodiesel and Renewable Diesel Fuels Credit; and the Alternative Fuel Vehicle Refueling Property, which expired at the end of 2017. BIO also supports the extension and expansion of the tax code to include the Qualifying Renewable Chemical Production or Investment Tax Credit and Master Limited Partnerships (MLP) to advanced biofuel and renewable chemicals.

BIO Applauds MLP Parity Act, Thanks Senate and House Sponsors

The bipartisan Master Limited Partnerships Parity Act of 2017 would level the playing field in the tax code by giving investors in renewable energy projects access to a decades-old corporate structure with a tax advantage now available only to fossil fuel projects.

BIO, Member Companies Ask Congress to Reauthorize Section 9003 Program in Farm Bill

BIO and 66 renewable chemical producers today asked leaders of the House and Senate Committees on Agriculture to reauthorize the Farm Bill’s Biorefinery, Renewable Chemical, and Biobased Manufacturing Assistance Program (Section 9003) and “fully and unconditionally allow renewable chemical standalone manufacturing facilities” to receive Section 9003 Program loan guarantees without requiring production of advanced biofuels.