Sunday, November 30, 2008

USDA Invites Applications for Biorefinery Loans under The Biorefinery Assistance Program

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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.

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