US Department of Energy earmarks $25 million for biofuel research. The goal, according to the Department of Energy, is to reduce the cost of algal biofuels to less than $5 per gasoline gallon equivalent (gge) by 2019. What’s more, this funding supports the development of a bioeconomy that can help create green jobs, spur innovation, improve the environment, and achieve national energy security.
Building on President Obama’s plan to cut carbon pollution, the Energy Department announced last Tuesday four research and development projects to bring next generation biofuels on line faster and drive down the cost of producing gasoline, diesel and jet fuels from biomass. The projects – located in Oklahoma, Tennessee, Utah and Wisconsin – represent a $13 million Energy Department investment.