October 31, 2024
BY Erin Voegele
The USDA on Oct. 29 announced it is allocating $200 million to the newly created Biobased Product Market and Access Grant Program, which will support innovative biobased technologies and bridge the gap between pilot-scale demonstrations and commercial viability.
The agency said the funding will be available to applicants who have been accepted into the Biorefinery, Renewable Chemical and Biobased Product Manufacturing Assistance Program, which is a loan guarantee program administered by USDA Rural Development. The program provides loan guarantees of up to $250 million to assist in the development, construction and retrofitting of new and emerging technologies in the advanced biofuels, renewable chemical and biobased products sectors.
According to the USDA, the $200 million program is being funded through the reallocation of unobligated Commodity Credit Corp. funds from 2020.
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Additional information is available on the USDA website.
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