Business Wire: BIO Thanks Senators for Introducing American Security and Freedom Fuels Act of 2010
WASHINGTON–(BUSINESS WIRE)–A newly introduced bill will authorize the Department of Defense (DOD) to continue its leading role in helping to commercialize next generation biofuels. The Biotechnology Industry Organization (BIO) today thanked Sens. Max Baucus (D-Mont.) and Jon Tester (D-Mont.) for introducing the American Security and Freedom Fuels Act of 2010, which would authorize the DOD to engage in long-term contracts for aviation biofuels.
Brent Erickson, executive vice president of BIO’s Industrial & Environmental Section, stated, “Advanced biofuel producers and algae producers are already working with the Navy, the Air Force and others to provide biofuels and diesel oils for testing in aviation and other applications. But efforts to commercialize advanced biofuels have been hampered during the recent recession by lack of access to institutional funding. Expanding the military’s ability to engage in long-term contracts could provide the certainty for leading companies and potential investors needed to commit capital to large-scale biofuel production.
