USDA launches Biobased Product Market and Access Grant Program

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.

Advertisement

Additional information is available on the USDA website

Advertisement

Related Stories

More than 1.76 billion renewable identification numbers (RINs) were generated under the Renewable Fuel Standard in January, down from 1.91 billion generated during the same period of 2024, according to data released by the U.S. EPA on Feb. 20.

Read More

The U.S. EPA on Feb. 20 released updated small refinery exemption (SRE) data showing that 13 previously denied SRE petitions for Renewable Fuel Standard compliance years 2021 and 2022 are being reconsidered. No new SRE petitions were filed.

Read More

A coalition of biofuel, agriculture, fuel retailer and petroleum trade groups on Feb. 19 sent a letter to U.S. EPA Administrator Lee Zeldin urging the agency to set robust, timely, multiyear RFS RVOs for 2026 and beyond.

Read More

OMV Petrom has announced the start of construction for a sustainable aviation fuel (SAF) and renewable diesel (HVO) production unit at the Petrobrazi refinery in Romania. The new facility will have an annual capacity of 250,000 tons.

Read More

CVR Energy Inc. released fourth quarter financial results on Feb. 18, reporting reduced renewable diesel production. The company also said it is pausing development of SAF capacity pending clarity on government subsidies.

Read More

Upcoming Events

Sign up for our e-newsletter!

Advertisement

Advertisement