President Announces Funding for Algae Biofuel Breakthroughs
(Algae Industry Magazine) President Obama has announced new funding to catalyze breakthrough technologies for biofuels—as part of his all-of-the-above energy strategy to reduce our reliance on foreign oil and provide American families new choices for vehicles that do not rely on conventional gasoline. Through its Advanced Research Projects Agency—Energy (ARPA-E), the Department of Energy will make $14 million available to support research and development into biofuels from algae.
The Energy Department’s $14 million funding announcement to develop transportation fuels from algae builds on an Administration-wide commitment to biofuels research, development, and demonstration that includes support for the construction of commercial-scale, next-generation biorefineries. Part of the Department’s sustained investment in biofuels technologies focuses on unlocking the potential for homegrown transportation fuels from algae which, according to the administration, have the potential to replace up to 17% of the United States’ imported oil for transportation. The Department is currently supporting more than 30 algae-based biofuels projects, representing $85 million in total investments.
…The competitively selected projects will receive up to $14.3 million in fiscal year 2012 funds, with an additional $6.7 million available in fiscal year 2014 funding, subject to Congressional appropriations, for projects that meet rigorous performance criteria. Applications are due on April 18, 2012. For more information and application requirements for the Funding Opportunity Announcement, please visit the Funding Opportunity Exchange website. READ MORE and MORE (Bloomberg BusinessWeek) and MORE (White House)
