BIO Urges Congress to Support Emerging Biofuels Technology
Letter to Congressional Leaders Calls for Investment in Commercialization and Research and Development of New Liquid Transportation Fuel Alternatives
WASHINGTON, D.C. (October 2, 2007) – The Biotechnology Industry Organization (BIO) today sent a letter to Congressional leaders urging them to ensure that energy legislation currently under consideration include strong support for emerging biofuels technologies, particularly cellulosic ethanol and other next-generation biofuel. “This is a critical time,” wrote BIO President and CEO Jim Greenwood. “We must invest now in commercialization and ongoing research and development of new liquid transportation fuel alternatives.”
In the letter, BIO advocates five policies to develop renewable fuels markets, accelerate the construction of new biorefineries, ensure adequate feedstock supplies, and continue to improve the technology and reduce the cost of biofuels production:
· Accelerate commercial production of cellulosic biofuels via a cellulosic biofuels production tax credit;
· Ensure a market for an emerging cellulosic biofuels industry via an advanced biofuels Renewable Fuels Standard;
· Continue to invest in research, development and demonstration of cellulosic and other advanced biofuels technologies in parallel with commercialization activities;
· Ensure that loan guarantees will be available for first-generation cellulosic ethanol facilities; and
· Ensure that a broad spectrum of feedstocks will be available for conversion to second-generation biofuels.
“The urgent challenges of energy security and global climate change demand that we reduce our dependence on imported petroleum and move rapidly toward greater use of clean, domestically produced renewable fuels and products. With ongoing advances in both industrial and agricultural biotechnology, biofuels can help America meet nearly half its transportation-fuel needs by the middle of this century,” Greenwood concluded.
About BIO www.bio.org
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. BIO also produces the annual BIO International Convention, the world’s largest gathering of the biotechnology industry.
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BIO InvestorForum 2007
Oct. 9-11, 2007
Pacific Rim Summit on Industrial Biotechnology and Bioenergy
Nov. 14-16, 2007
World Congress on Industrial Biotechnology and Bioprocessing
April 27–30, 2008
BIO International Convention
June 17–20, 2008